New Delhi: On the fifth day of the sale on Saturday, the 5G spectrum auction that can provide ultra-high-speed internet attracted bids totaling around Rs 1,49,966 crore, and the bidding is anticipated to continue on Sunday.
The Rs 1.50 trillion threshold has almost been reached in the telecom spectrum auction, which got underway on Tuesday.
“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.
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The minister said that the auction and its “good response” underlines the industry’s maturity.
Reliance Jio, owned by billionaire Mukesh Ambani, Bharti Airtel, Vodafone Idea, and a division of Adani Enterprises, owned by billionaire Gautam Adani, are competing for the 5G spectrum, which offers speeds that are roughly 10 times faster than 4G, lag-free connectivity, and the ability for billions of connected devices to share data in real-time.
The Fifth Generation, or 5G, would enable solutions like e-health, connected vehicles, more immersive augmented reality and metaverse experiences, life-saving use cases, and advanced mobile cloud gaming, among others. In addition to enabling 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), 5G would also power ultra-low latency connections.
According to the minister, the reserve price set for spectrum is a “reasonable number” and was confirmed by the results of the auction.
The provisional earnings increased from the Rs 1,49,855 crore received up until Friday from players like Reliance Jio and Bharti Airtel to Rs 111–112 crore on Saturday.
According to market analysts who cited data from the telecom ministry, on Saturday, demand in Uttar Pradesh East, which had peaked over the previous three days, dipped below supply levels.
Experts noted that in a previous round, there was a need for 75 blocks compared to a supply of 54 blocks, and that in the most recent round, there was a demand for 50 blocks, which was four fewer than the supply in the circle.
Although it will be clearer on Sunday morning, the demand-supply trend in Uttar Pradesh East suggested that the bidding activity may be beginning to slow down.
The bidding will resume on Sunday with the 31st round after seven new rounds were completed on Saturday (a deviation from custom).
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