The first day of auction of 5G spectrum saw the bid amount exceeding Rs 1.45 lakh crore, said Telecom Minister Ashwini Vaishnaw. A total of 72 GHz (gigahertz) of radiowaves worth Rs 4.3 lakh crore were up for bidding. Four auction rounds were completed on Tuesday. Round five of the auction will begin on Wednesday.
“Four rounds of 5G auction have been completed. So far, it is expected that the revenue generated is around Rs 1,45,000 crore. We have to complete this process by August 14 and 5G service in the country will start by September-October,” ANI quoted Ashwini Vaishnaw as saying.
The minister said bids were also received for 700 MHz band frequencies. The auction is being held for spectrum in various low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz) and high (26 GHz) frequency bands.
Ashwini Vaishnaw the government hoped to complete the spectrum allocation by August 15. He said 5G services would be available in many cities by year end.
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Billionaire Mukesh Ambani’s Reliance Jio, Sunil Mittal-led Bharti Airtel, Vodafone Idea and a unit of billionaire Gautam Adani’s flagship Adani Enterprises participated in the auction on Tuesday.