5G spectrum sale nears Rs 1.50 lakh crore mark on day 5

5G spectrum sale nears Rs 1.50 lakh crore mark on day 5
Representational Pic

New Delhi, July 30: The auction of the 5G spectrum capable of offering ultra-high-speed internet garnered bids worth about Rs 1,49,966 crore on the fifth day of sale on Saturday and the bidding is expected to continue on Sunday.

The total value of bids in the telecom spectrum auction, which began on Tuesday, has come within striking distance of the Rs 1.50 lakh crore mark.

"The 5G auction shows that the industry wants to expand, it has come out of problems and is getting into a growth phase. The auction results are very good, close to Rs 1,49,966 crore has been committed by the industry for buying the spectrum," Telecom Minister Ashwini Vaishnaw said at a briefing in Mumbai, after a telecom investors' roundtable.

The minister said that the auction and its "good response" underlines the industry's maturity.

Billionaire Mukesh Ambani's Reliance Jio, Sunil Mittal-led Bharti Airtel, Vodafone Idea and a unit of billionaire Gautam Adani's flagship Adani Enterprises are in the race to bid for the 5G spectrum, which offers speeds about 10 times faster than 4G, lag-free connectivity and can enable billions of connected devices to share data in real-time.

Besides powering ultra-low latency connections, which allow downloading full-length high-quality video or movie to a mobile device in a matter of seconds (even in crowded areas), the Fifth Generation or 5G would enable solutions such as e-health, connected vehicles, more-immersive augmented reality and metaverse experiences, life-saving use cases, and advanced mobile cloud gaming, among others.

The reserve price fixed for spectrum is a "fair number" and the same is visible from the auction outcome, the minister said.

Incrementally, Rs 111-112 crore came in on Saturday, the provisional proceeds rising from the Rs 1,49,855 crore received till Friday from players like Reliance Jio and Bharti Airtel.

Industry analysts citing the telecom ministry data said that the demand in Uttar Pradesh East - which had peaked over the last three days - fell below supply levels on Saturday.

Related Stories

No stories found.
Greater Kashmir