5G spectrum auctions: Above Rs 1.45 lakh crore bids on Day 1

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).

Bids totaling more than Rs 1.45 lakh crore were submitted for India's first ultra-high speed 5G spectrum auction on Tuesday. Previous record-high bid for spectrum auctions was 1.09 lakh crore.

The auctions drew the amount in total four rounds of bidding that took place between 10 AM to 6 PM. The bidding process involved Reliance Jio(Jio), Gautam Adani's Adani Enterprises, Bharti Airtel(Airtel) and Vodafone Idea(Vi).

According to business executives and and government officials, all three private telecoms, Jio, airtel and Vi have reportedly made bids for mid-band and high-band airwaves as they prepare to introduce services that could deliver mobile internet speeds that are ten times faster than 4G.

It is anticipated that the newcomer Adani Data Networks, a division of the diverse Adani Group, exculsively submitted bids for high band, also called the millimetre wave (mmWave), to be used in its captive networks.

Addressing a press briefing after the bidding was over, telecom minister Ashwini Vaishnaw stated: "It seems now that the telecom industry is moving towards new territory as new tech and new investment is expected." The minister also said that the government expected to complete spectrum allocation by August 15 and commence 5G services by September or October.

The telecom department's report for the first day of the sale states that bids were placed for two slots in the 700 MHz band from all across India. Industry experts say that Jio, which made the greatest pre-auction deposit, might have made a bid for both of the 5MHz slots.

Due to the expensive price bands, telecom giants had tepid reactions to the nation's largest-ever spectrum auction when it started. The overall value of the 5G airwaves, which ranged from over 72 GHz to 72,000 MHz, was Rs 4.3 lakh billion.

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).

The length of the auction will rely upon the demand for radiowaves and the strategies employed by discrete bidders, said the telecom department sources.

"All the important bands- 700 MHz, the C-band (3.3-3.6GHz) and the mmWave (26 GHz) have attracted interest from the bidders," mentioned Ashwini Vaishnaw. He added that this response is proof that the industry has recovered from its difficult times.