Rs 1.49 Lakh Crore Bids So Far: Minister

Rs 1.49 Lakh Crore Bids So Far: Minister

5G spectrum auction sees bids worth Rs 1.49 lakh crore so far

The second day of India’s biggest spectrum auction for 72 GHz (gigahertz) of 5G airwaves worth ₹ 4.3 lakh crore is in process.

Here Is Your 5-Point Guide To The Story:

  1. The 5G spectrum auction sees bids worth Rs 1,49,454 crore so far, in nine rounds of bidding, said Telecom Minister Ashwini Vaishnaw.

  2. The auction extends to the third day and continue on Thursday, the Minister said.

  3. Day 2 of the 5G auction — which would ring in new-age offerings and business models and enable ultra-high speeds, about ten times faster than 4G — began at 1000 hours (10 am) and ended at 1800 hours (6 pm) with nine rounds.

  4. On Tuesday, four rounds of the auction were completed on day 1, which saw bids exceeding Rs 1.45 lack crore for 5G airwaves from groups run by tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani and Vodafone Idea on the first day on Tuesday.

  5. While the number of days the auction ultimately stretches to will depend on the demand for radiowaves and the strategy of individual bidders, the broad industry consensus was for it to end today, but will extend to tomorrow. It is expected that Reliance Jio could lead the spending, followed by Bharti Airtel, while analysts see limited participation from Vodafone Idea and Adani Group.

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