The bid amount for the 5G spectrum exceeded Rs 1.45 lakh crore on Day 1 of the auction at the end of four rounds. Adani Enterprises, Bharti Airtel, Reliance Jio, and Vi participated in the bidding process.
All four applicants actively participated in the auction of the 5G spectrum, which offers ultra-high speeds (about 10 times faster than 4G), lag-free connectivity, and can enable billions of connected devices to share data in real-time.
Telecom Minister Ashwini Vaishnaw said that 5G services can be expected across several cities by the end of this year. The auction began yesterday and the entire sale process will take several days, depending on the actual demand for radio waves and the strategy of individual bidders.
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. Round five of the auction will be held today.
“Bids were also received for 700 MHz band frequencies,” Vaishnaw said. The telecom minister added that the government will allocate the spectrum in record time, and 5G services are expected to start rolling out by September. The target is to allocate the spectrum by August 14.
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