India’s largest 5G spectrum auction ended on Monday. It underwent 40 rounds of intense bidding.
Reliance Jio booked the top bidder position with bids that amounted to Rs 88,078 crore. Bharti Airtel, Vodafone Idea and Adani Data Networks followed this.
Authorities will finish allocation of spectrum in the next 10 to 2 days. It is also informed that 5G services will commence from October onwards.
The 5G spectrum auction took place for the 1,800 MHz spectrum in the UP (East) Circle.
The second highest amount of total bids stood at Rs 39,720 crore.
The Telecom Minister, Ashwini Vaishnaw asserted that spectrum enough for nationwide coverage was sold in the auction. The spectrum sale collected a total revenue of Rs 1,50,173 crore. Stakeholders previously estimated the total collection to be around 80,000 to 1 lakh. However, it turned out to be much higher than the estimated value. The minister also mentioned that nationwide coverage should be completed in the next two to three years.
The top bidder, Reliance Jio bought 24.7 GHz airwaves with their total bid amount. In adition to 800 MHz, 1,800 MHz, 3,300 MHz and 26 GHz, Jio’s purchase also included the costly 700 MHz band.
Bharti Airtel on the other hand paid Rs 43,084 crore and purchased 19.8 GHz of spectrum in frequencies of 900 MHz, 1,800 MHz, 2,100 MHz, 3,300 MHz and 26 GHz.
Along with them, Vodafone Idea spent Rs 18,799 crore while Adani Data Networks spent Rs 212 crore.
