5G spectrum auction bid topped by Reliance Jio Infocomm Ltd

Reliance Jio Infocomm Ltd turns out to be the top bidder for the 5G spectrum auction with the price of 88,078 crores.

Finally, the first and largest auction of 5G spectrum in India ended today on Monday, August 1. In this bidding which lasted for seven consecutive days, till the seventh day, spectrum worth more than Rs 1.5 lakh crore was bid. At the end of the auction, a total of Rs 1,50,173 crore spectrum has been sold. In this auction, veterans including Reliance Jio owner Mukesh Ambani and Gautam Adani, who came into the limelight with his new company in the telecom sector, have bid.

special in newsAccording to Telecom Minister Ashwini Vaishnav, the 5G spectrum auction has been successfully completed with a total bid amount of Rs 1,50,173 crore. In this auction process, a total of 72,098 MHz spectrum was offered for auction, out of which 51,236 MHz have been sold. He said that it is expected that spectrum allocation will be done before August 15 and 5G services will start in the country before September-October. At the same time, by the end of 2022, 5G telecom services can start in many cities of the country.

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