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5G Spectrum auction enters day 3; receives bids worth Rs 1.49 lakh cr on day 2

-By ArdorComm News Network

Day 3 of India’s 5G spectrum auctions began on Thursday with the tenth round of bidding for the airwaves required to provide lag-free connectivity and ultra-high-speed internet. After the ninth round of the second day’s largest-ever auction for mobile signal spectrum in the nation, bids for 5G airwaves totaled more than 1.49 lakh crore.

Union minister Ashwini Vaishnaw said on Wednesday that bids totalling 1,49,454 crores were received in the ninth round.

“I am happy to see good competition in auction, good competition for all bands have come in,” Vaishnaw said, adding, “Bids worth ₹1,49,454 crore have been received so far at the end of 9th round.”

According to the telecom minister, the third day of the 5G spectrum auction was extended, and it is continuing on Thursday. He added that demand is evident in all spectrum bands.

The second day of the auction, which would enable ultra-high speeds about ten times faster than 4G and usher in new-age offerings and business models, began at 10 am and ended at 6 pm with nine rounds of bidding.

After four rounds of spectrum bidding, the government got spectrum bids of 1.45 lakh crore on the first day of auction on Tuesday.

On the first day, companies owned by businessmen Mukesh Ambani, Sunil Bharti Mittal, and Gautam Adani, as well as Vodafone Idea, placed bids totalling 1.45 lakh crore. On Wednesday, five rounds were held to receive more offers for airwaves.

According to analysts, Ambani’s Reliance Jio may be the most aggressive competitor.

The bid specifications have not yet been disclosed. According to ICICI Securities’ estimate, Jio most likely selected 10 MHz of spectrum in the exclusive 700 MHz band, placing the highest bid of 80,100 crore.

ICICI Securities noted in its report, “It appears Adani has bought 26GHz spectrum in 20 circles (except in Delhi and Kolkata), and its total spectrum purchase could be 3350MHz for ₹900 crore. Our estimate is provisional as data does not reflect the entire purchase by Adani. We believe, it should have purchased 200 MHz spectrum in all circles except Gujarat, where it would have bought 400MHz.”

Bharti Airtel may have submitted a bid for spectrum in the 1800 MHz and 2100 MHz bands for 45,000 crores, which is 20% higher than anticipated.

Adani Data Networks should have picked 26 GHz spectrum across India, whereas debt-ridden Vodafone Idea likely bid for 18,400 crores, according to the report.

Source: PTI

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