Lagatar24 Desk
New Delhi, July 29: The 5G spectrum auction for ultra-high-speed internet services reached day four on Friday with bids totaling 1,49,623 crore received in the first 16 rounds of the bidding process.
Jio and Airtel engaged in strong bidding on Wednesday and Thursday due to the huge demand for spectrum in the 1800 MHz band in the Uttar Pradesh East circle, which kept the pace going and extended the auction’s deadlines beyond what was initially anticipated.
Reliance Jio, owned by billionaire Mukesh Ambani, is competing for the 5G spectrum with Sunil Mittal’s Bharti Airtel, Vodafone Idea, and a division of Gautam Adani’s Adani Enterprises. 5G 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.
Following a strong start on Tuesday, when people bet 1.45 lakh crore on the first day, the numbers gradually increased on Wednesday and Thursday. The seventeenth round of bidding was held on Friday.
