Lagatar24 Desk
New Delhi, July 27: With the ninth round of bidding underway, the 5G spectrum auction has received bids totalling 1.49 lakh crore, according to Telecom Minister Ashwini Vaishnaw.
Day 2 of the 5G auction, which would enable ultra-high speeds that are around ten times faster than 4G and usher in new-age offerings and business models, started at 1000 hours (10 am and is currently in the ninth round of bidding).
During the first day of the auction on Tuesday, which saw four rounds completed, bids for 5G airwaves from Vodafone Idea and the companies owned by businessmen Mukesh Ambani, Sunil Bharti Mittal, and Gautam Adani exceeded 1.45 lack crore.
The demand for radiowaves and the tactics of individual bidders will determine how long the auction lasts, although the general industry assumption is that it might end today.
Reliance Jio is predicted to drive the spending, followed by Bharti Airtel, with minor involvement from Vodafone Idea and Adani Group, according to analysts.
