A record over Rs 1.5 lakh crore worth of 5G telecom spectrum was sold in a seven-day auction ending on Monday, which saw Mukesh Ambani’s Jio emerging as the top bidder to consolidate its leadership position.
As per PTI report, Sources with direct knowledge of the matter said provisional data puts the total bids at Rs 1,50,173 crore.
The mop-up from the 5G spectrum, capable of offering ultra-high speed mobile internet connectivity, is almost double at Rs 77,815 crore worth 4G airwaves sold last year and triple of Rs 50,968.37 crore garnered from a 3G auction in 2010.
Reliance Jio was the top bidder to the airwaves capable of offering speeds about 10 times faster than 4G, lag-free connectivity, and can enable billions of connected devices to share data in real-time. It was followed by Bharti Airtel and Vodafone Idea Ltd.
New entrant Adani group is said to have bought 26 Mhz spectrum for setting up a private telecom network.
The 5G Spectrum Auction has concluded successfully with a total bid amount of Rs 1,50,173 Crores. 72,098 MHz of spectrum was offered for auction, and out of that 51,236 MHz has been sold Union Minister Ashwini Vaishnaw was quoted as saying by ANI
The government had put on offer spectrum in 10 bands but received no bids for airwaves in 600 MHz, 800 MHz and 2300 MHz bands. About two-thirds of the bids were for the 5G bands (3300 Mhz and 26 GHz), while more than a quarter of the demand came in the 700 Mhz band – a band that had gone unsold in the previous two auctions (2016 and 2021).
In the auction conducted last year – that had lasted two days – Reliance Jio picked up spectrum worth Rs 57,122.65 crore, Bharti Airtel bid about Rs 18,699 crore, and Vodafone Idea bought spectrum worth Rs 1,993.40 crore.
This year, a total of 72 GHz (gigahertz) of radiowaves worth at least Rs 4.3 lakh crore was put on the block. The auction was held for spectrum in various low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz), mid (3300 MHz) and high (26 GHz) frequency bands.