India 5G spectrum: auction reaches Rs 149,623 crore on third day

The bid value of India’s 5G spectrum auction reached Rs 149,623 crore during the third day against Rs 149,454 crore on the second day and Rs 145,000 crore on the first day.
5G base station USIndia government aims to sell 72 GHz of radiowaves worth Rs 4.3 lakh crore. The response on the third day indicates that the demand for 5G spectrum is reducing and the action will end on Friday.

Reliance Jio, a telecom venture promoted by Mukesh Ambani, has emerged as the winner during the first ever 5G auction in India. Bharti Airtel will be in distant second position as per its EMD.

“The 16th round was over by 6.30 pm and it took 45 minutes for each round of bidding today. The good thing is that the industry is committed to taking the services to rural areas. The first day was about buying spectrum, but now it is about where to buy the spectrum for,” Ashwini Vaishnaw, Minister of Communications and Information Technology, told media.

“As intense bidding across various bands by operators such as Reliance Jio and Bharti Airtel kept the pace going and extended the sale to the third day on Wednesday, the auctions brought in more than Rs 1.49 lakh crore,” Abhishek Malhotra, Managing Partner at TMT Law Practice, said.