5G Spectrum Auction: The auction process for the allocation of 5G spectrum in the country continued for the second consecutive day on Wednesday in which the fifth round of bidding has been done. Apart from telecom companies Reliance Jio, Bharti Airtel and Vodafone Idea, Adani Enterprises is also participating in this spectrum auction process.
Bids worth Rs 1.45 lakh crore were placed for fifth generation spectrum on Tuesday, the first day of the auction. The bidding process started at 10 am on the second day of the auction. It is being estimated that the process of bidding will be completed before the scheduled time of 6 pm. In this auction, bids are being presented for a total of 72 GHz worth Rs 4.3 lakh crore. This is also the first auction for 5G spectrum.
Telecom Minister Ashwini Vaishnav expressed happiness over the overwhelming response to the spectrum auction on the first day, saying it exceeded expectations and is likely to beat the 2015 record. At that time the government got revenue of Rs 1.09 lakh crore from spectrum sale. According to information received from the Department of Telecommunications, this time bids have also been made for the 700 MHz band, for which no buyer was found in the previous auctions of 2016 and 2021. According to the information received, on the first day of the auction, bids worth Rs 39,270 crore were placed for this spectrum band.