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The action ends on the 7th day with bids surpassing a record Rs 1.5 Lakh Crore

The mega 5G spectrum auction has ended for the seventh time. The government received bids worth more than a record Rs 1.5 lakh crore – a new record, up from the previous record high of Rs 1.09 lakh crore at the 2015 auction.

For perspective, in 2015, the government had received bids worth Rs 1.09 lakh crore; Rs 65,789 crore in 2016; and Rs 77,814 crore in 2021.

The mega 5G spectrum auction had started on Tuesday with Reliance Jio, Adani Group, Bharti Airtel and Vodafone Idea as participants in the race.

A total of 72 gigahertz (GHz) of 5G waves worth Rs 4.3 lakh crore were on offer with a validity period of 20 years in the country’s largest spectrum auction.

The auction took place in the low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), medium (3300 MHz) and high (26 GHz) frequency bands.

The government had sweetened the pot by offering flexible payment terms and no spectrum usage fees, which added to the buoyancy of the auction.

Union Telecom Minister Ashwini Vaishnaw said there was competition in the 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2500 MHz, 3300 MHz and 26 GHz bands.

According to government officials, the premium low band of 700 MHz – which offers the highest area-level coverage – has received offers for the very first time.

According to sources, Union Minister for Telecoms Ashwini Vaishnaw will host a panel discussion on Saturday where he will seek to understand the concerns of investors and financial institutions.

It is also learned that the government is keen to present telecommunications as a booming sector, no longer bogged down by legacy issues, and will introduce a 10-point reform program to revise the legal framework to address the issues. of inheritance.

First post: STI


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