India's first-ever 5G spectrum auction ends, and total bids cross ₹1.5 lakh crore
India's first-ever 5G spectrum auction has concluded, Union Minister Ashwini Vaishnav said on Monday. The total bid amount for the sale of airwaves was over ₹1.5 lakh crore at the end of the auction. Out of the 72 GHz of the spectrum that was put up for auction, around 51 GHz has been sold, Vaishnaw said.
Jio was the only applicant to have acquired spectrum in the coveted 700 Mhz bands, which industry analysts say will give it a significant headstart over its competitors as far as consumer penetration of 5G is concerned.
The auction went on for many more days and rounds than planned, belying expectation among telecom companies that most of the spectrum would be sold at the base price and would be over in two days.
No one anticipated a bitter battle between the three telecom companies for the 10.8 MHz of spectrum in the 1800 band in the eastern Uttar Pradesh circle. The battle resulted in prices soaring over the base price.
Government sources said they had estimated earning between Rs 70,000 crore and Rs 110,000 crore, but guess did better because reportedly Reliance Jio decided to buy 10 MHz of spectrum in the 700 bands. The company, said analysts, would have forked out Rs 39,270 crore for the band as a result of which the overall numbers hit a much higher mark.
According to Telecom Minister Ashwini Vaishnaw, the Adani group bought 400 MHz, or less than one percent of all spectrum sold, for ₹ 212 crores.
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