India's 5G spectrum auctions stretched to 4th day, bids reaches ₹1,49,623 crore

|HT|

Union telecom minister Ashwini Vaishnaw said India's 5G spectrum auctions stretched to the fourth day, with bids worth ₹1,49,623 crore being received on the third day on Thursday. On Wednesday, the auctions garnered ₹1.49 lakh crore as aggressive bidding across multiple bands by players such as 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 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 ₹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.

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