Lagatar24 Desk
New Delhi, July 28: At the end of the second day of the auction for the 5G telecom spectrum, bids totaling Rs 1,49,454 crore had been received. The bids for the eagerly anticipated spectrum sale have been extended for the third day.
The 5G spectrum auction brought in Rs 71,639.2 crore more than the 4G spectrum sale of 2021, according to a comparison of the two-day numbers. It is higher by 92.06 percent in percentage terms. The auction saw five rounds on Wednesday, bringing the total to nine.
Earlier, it was anticipated that the sale would end on Wednesday, the second day. The bids submitted so far are roughly twice as many as those submitted for the 2021 4G spectrum auction. The winning bid for the 4G spectrum auction in March 2021 was Rs 77,814.80. In 2021, the auction was finished in just two days.
“700 MHz has seen a good response, it has been sold this time. Good response in other low and mid bands as well,” giving updates about the second day of the auction, Union Minister of Communications, Electronics and Information Technology Ashwini Vaishnaw on Wednesday said.
The 5G spectrum auction, in which the spectrum will be allotted to bidders to provide 5G services to the public and businesses, was recently approved by the Union Cabinet, which is presided over by Prime Minister Narendra Modi.
The fifth-generation (5G) mobile network is able to send massive amounts of data at extremely fast rates. 5G has an extremely low latency compared to 3G and 4G, which will improve user experiences across a variety of industries.
