5G auction: Bids worth Rs 1.5 cr after 37 rounds

Story by  ATV | Posted by  Nakul Shivani | Date 01-08-2022
5G spectrum is expected to rollout in India by Oct 2022
5G spectrum is expected to rollout in India by Oct 2022

 

New Delhi

Day 6 of the ongoing 5G spectrum auction on Sunday saw an incremental increase in the bidding figure after 37 rounds, with the government now receiving bids worth Rs 1,50,130 crore to date.

Led by Reliance Jio with over Rs 80,100 crore and Bharati Airtel with around Rs 50,000 crore worth bids, the 5G spectrum auction will continue on Monday.

While Vodafone Idea has placed bids for about Rs 15,000 crore, a unit of Adani Enterprises has placed bids around Rs 5,000 crore.

Jio and Airtel are currently engaged in intense bidding in Uttar Pradesh East circle for the 1800MHz band.

In all, 72 GHz of radiowaves worth at least Rs 4.3 lakh crore are on the block.

More than 71 per cent of the total 5G spectrum has been provisionally sold.

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5G is expected to rollout in the country by October 2022.

It will provide data speeds about 10 times faster than 4G and would enable better e-health, connected vehicles, metaverse and mobile streaming.