5G Spectrum Auction: Auction of 5G spectrum concluded on Monday, bids worth so many crores

5G Spectrum Auction Ends: The auction of 5G spectrum was started from 26 July. India’s largest telecom companies participated in this auction, Reliance Jio, Bharti Airtel, Vodafone Idea and Adani Group bid fiercely in this auction. After a long run, the spectrum auction finally concluded on Monday. During this auction, a provisional sale has taken place for Rs 1,50,173 crore. Sources with knowledge of the matter said that the auction, which lasted for seven days, ended on Monday afternoon. He said that the provisional figure of sale proceeds is Rs 1,50,173 crore and the final number is being reconciled.

7th day of spectrum auction on Monday

The first auction of 5G spectrum in India entered its seventh day on Monday. During this time many companies including Jio and Airtel are bidding for 1800 MHz for Uttar Pradesh Eastern circle. Earlier on Sunday, on the sixth day of bidding, the total spectrum sales had crossed the Rs 1.50 lakh crore milestone. Bids worth Rs 1,50,130 crore have been received so far in six days of auction of 5G spectrum capable of delivering extremely high-speed internet service.

163 crore on Sunday

The seven fresh rounds of bidding held on Sunday saw an increase of Rs 163 crore. The Department of Telecom has offered to sell 72 GHz spectrum worth a total of Rs 4.3 lakh crore in this auction. Apart from Reliance Jio, Bharti Airtel and Vodafone Idea, Adani Enterprises is also participating in this auction. Monday is the seventh day of the auction and currently the 38th round of bidding is going on.

Tough competition between Reliance Jio and Airtel

Sources said that the UP Eastern circle, which includes Lucknow, Allahabad, Varanasi, Gorakhpur and Kanpur, once again saw a spurt in bidding for 1800 MHz after a relatively subdued demand on Saturday. There are more than 100 million mobile customers in UP East. It is believed that during this time there is a tough competition for spectrum between companies like Reliance Jio and Bharti Airtel.

Ashwini Vaishnav said this thing

Telecom Minister Ashwini Vaishnav had recently said that the 5G auction highlights that the industry wants to expand and has entered a growth phase. He said that the reserve price fixed for spectrum is reasonable and it is proved by the auction result. (with language input)

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