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On the second day of the 5G spectrum auctions, the government elevated additional 4,000 crore, bringing its total revenue from the sale to 1.49 lakh crore.
The government announced that the 5G spectrum auction has already attracted bids totaling a record Rs 1.49 lakh crore, and that the sale will continue on Thursday as well.
On the second day of the 5G spectrum auctions, the government elevated additional 4,000 crore, bringing its total revenue from the sale to 1.49 lakh crore.
Reliance Jio, Bharti Airtel, Adani Data Networks and Vodafone Idea were among the companies that participated in the bids, which got underway on Tuesday.
"The second day of the auction has ended and it will continue on Thursday. Bids worth Rs 1,49,454 crore have been received so far at the end of 9th round" Telecom Minister Ashwini Vaishnaw said on Wednesday.
The minister said that all bands of the spectrum are seeing demand. 700 MHz saw the highest demand as the telecom companies were keen on providing service to uncovered remote areas. Far-flung areas required a low band of spectrum, the Minister added.
Although the specifics of who placed the highest spectrum bid are unknown, it is assumed that Jio, Airtel, and Vodafone placed the highest bids respectively. Adani group is expected to have chosen some spectrum that covered all of India.
The government hopes to complete the allocation of spectrum by mid-August and the 5G services should be available by the end of 2022.
All of the spectrum bands that were up for sale were: high band-(26 GHz0, mid-band or C-band (3.3-3.67 GHz), and low band- (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, and 2300 MHz).