5G spectrum auction finally began in India yesterday and after 4 rounds of bidding on Day 1, we have a few updates to share. It is revealed that the spectrum allocation is said to be completed by August 15. Here are more details to know.
The government has received around Rs 1.45 lakh crore as the bidding amount, which exceeded the expectation. To recall, the highest bidding amount has been Rs 1.09 lakh crore back in 2015. The bidding participants include Reliance Jio, Bharti Airtel, Vodafone Idea (Vi), and for the first time, the Gautam Adani-led Adani Group.
Vaishnaw, in a statement, said, “We had four rounds today and have seen good participation from all bidders. We have crossed the previous revenue record (from auctions) at around Rs 1.45 lakh crore so far (from this year’s auction).“