Bidding of 5G auction to continue on Day 5

The mega auction for the 5G spectrum will enter its fifth day after the 23rd round of bidding ended yesterday. It is said that bids worth nearly Rs 1.5 lakh have been received so far, up from the previous high of Rs 1.09 lakh crore in the 2015 auction.

A total of 72 gigahertz (GHz) of 5G airwaves worth Rs 4.3 lakh crore were on offer with a validity period of 20 years in the country’s biggest-ever auction of spectrum. The 5G spectrum auction had begun earlier this week with Reliance Jio, Adani Group, Bharti Airtel and Vodafone Idea as participants.

The auction is being held in low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz), and high (26 GHz) frequency bands. According to government officials, the premium 700 MHz low band, which offers the highest coverage area wise, received bids for the first time ever.

Seven rounds of bidding took place and incrementally Rs 231.6 crore came in on Friday. In all, 23 rounds of bidding have been conducted so far. The government is keen on pitching telecommunications as a sunrise sector, and will introduce a 10-point reform agenda to overhaul the legal framework to sort out legacy issues.

Meanwhile, it is reportedly said that Telecom Minister Ashwini Vaishnaw will also be holding a meeting with PE funds, VCs, investors, and banks in Mumbai to understand their views and concerns, as also to discuss the growth path for the telecom sector.