Business Standard

5G spectrum auction enters Day 3; 10th round of bidding underway

India's 5G spectrum auctions entered Day 3 on Thursday with tenth round of bidding for airwaves that would power lag-free connectivity and ultra-high speed internet

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Press Trust of India New Delhi
India's 5G spectrum auctions entered Day 3 on Thursday with tenth round of bidding for airwaves that would power lag-free connectivity and ultra-high speed internet.
On Wednesday, the auctions garnered Rs 1.49 lakh crore as aggressive bidding across multiple bands by players like Reliance Jio and Bharti Airtel sustained the tempo, and pushed the sale over to the third day.
As many as five rounds of bidding were conducted on Wednesday, and Telecom Minister Ashwini Vaishnaw said "good competition" was seen in almost all bands on offer.
Vaishnaw expressed happiness at the response received for the coveted 700 MHz band, which did not find any takers in the last two auctions held in 2016 and 2021.
"The sector is coming with new energy and that is reflected in response to 5G auctions," Vaishnaw told reporters on Wednesday.
Firms run by tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani as well as Vodafone Idea had put in bids worth Rs 1.45 lakh crore on the opening day on Tuesday when four rounds were held, and incremental demand for airwaves came in five rounds held on Wednesday.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jul 28 2022 | 11:24 AM IST

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