5G spectrum public sale enters Day 3; tenth spherical of bidding underway

India’s 5G spectrum auctions entered Day 3 on Thursday with tenth spherical of bidding for airwaves that will energy lag-free connectivity and ultra-high pace web.

On Wednesday, the auctions garnered Rs 1.49 lakh crore as aggressive bidding throughout a number of bands by gamers like Reliance Jio and Bharti Airtel sustained the tempo, and pushed the sale over to the third day.

As many as 5 rounds of bidding have been carried out on Wednesday, and Telecom Minister Ashwini Vaishnaw mentioned “good competition” was seen in nearly all bands on supply.

Vaishnaw expressed happiness on the response acquired for the coveted 700 MHz band, which didn’t discover any takers within the final two auctions held in 2016 and 2021.

“The sector is coming with new energy and that is reflected in response to 5G auctions,” Vaishnaw informed reporters on Wednesday.

Firms run by tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani in addition to Vodafone Idea had put in bids value Rs 1.45 lakh crore on the opening day on Tuesday when 4 rounds have been held, and incremental demand for airwaves got here in 5 rounds held on Wednesday.