5G Spectrum Auctions Enter Day 3; 10th Round of Bidding Underway

On Wednesday, the auctions garnered Rs 1.49 lakh crore as aggressive bidding across multiple bands continued.

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.

(Photo: iStock)

India's 5G spectrum auctions are set to enter day 4 after bids worth Rs 1,49,623 crore were received on Thursday, 28 July. The spectrum airwaves would power lag-free connectivity and ultra-high speed internet.

This is marginally higher than Rs 1,49,454 crore-worth bids received at the end of the ninth round on Wednesday, the second day of the auction.

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.

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.

Telecom Minister Ashwini Vaishnaw on Thursday said 16 rounds of bidding have been completed in three days and the auction will continue on Friday.

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.