The first day of the 5G spectrum auction concluded on Tuesday, with a total of four rounds of the auction conducted. The bidding process started at 10 am and went on till 6 pm. The fifth round of the auction will now begin on Wednesday. This is India’s first auction of the 5G spectrum, which powers ultra-high data speeds with a total of 72 GHz (gigahertz) of radiowaves worth at least ₹4.3 lakh crore up for bidding.
Here are the top five points on 5 spectrum auction bidding:
1. According to telecom minister Ashwini Vaishnaw, the bid amount exceeded ₹1.45 lakh crore on Tuesday, news agency PTI reported. Vaishnaw added auction saw healthy participation. Recently, he had said that India is expected to get full-fledged 5G services by March next year.
2. Mukesh Ambani’s Reliance Jio, Sunil Mittal-led Bharti Airtel, Vodafone Idea and a unit of Gautam Adani’s flagship Adani Enterprises are the four major participants in the race to bid for 5G spectrum.
3. 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. The 3300 MHz and 26 GHz bands attracted strong bids.
4. The number of days the 5G spectrum auction stretches to will depend on the actual demand for radiowaves and the strategy of individual bidders, although the broad industry consensus is that it may last up to two days, PTI further reported.
5. On Tuesday, telecom stocks ended on a mixed note. Shares of Bharti Airtel reportedly gained 0.83 per cent to settle at ₹683.80 apiece on the BSE. On the other hand, Vodafone Idea fell 1.01 per cent to ₹8.83 apiece.
(With PTI inputs)