Business strategy

10th Round of Bidding Underway

Last Updated: July 28, 2022, 17:07 IST

5G spectrum auctions began on Tuesday, July 26.

5G spectrum auctions began on Tuesday, July 26.

India’s 5G spectrum auctions entered Day 3 on Thursday with tenth round of bidding for airwaves that would power lag-free connectivity and ultrahigh speed internet.

New Delhi: India’ 5G spectrum auctions entered Day 3 on Thursday with tenth round of bidding for airwaves that would power lag-free connectivity and ultra-high speed internet. On Wednesday, the auctions garnered Rs 1.49 lakh crore as aggressive bidding across multiple bands by players like Reliance Jio and Bharti Airtel sustained the tempo, and pushed the sale over to the third day.

As many as five rounds of bidding were conducted on Wednesday, and Telecom Minister Ashwini Vaishnaw said “good competition” was seen in almost all bands on offer. Vaishnaw expressed happiness at the response received for the coveted 700 MHz band, which did not find any takers in the last two auctions held in 2016 and 2021.

“The sector is coming with new energy and that is reflected in response to 5G auctions,” Vaishnaw told reporters on Wednesday. Firms run by tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani as well as Vodafone Idea had put in bids worth Rs 1.45 lakh crore on the opening day on Tuesday when four rounds were held, and incremental demand for airwaves came in five rounds held on Wednesday.

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