5G auction: 71% of spectrum on block sold, bids of Rs 1,49,855 crore received

India’s 5G spectrum auction received bids worth about Rs 1,49,855 crore as of Friday, the fourth day of sale, as continued interest for radiowaves stretched the bidding process to Saturday.

About 71 per cent of the total spectrum put on the block has been provisionally sold, Telecom Minister Ashwini Vaishnaw said.

“This is a very good response,” Vaishnaw said.

Seven rounds of bidding took place and incrementally Rs 231.6 crore came in on Friday. In all, 23 rounds of bidding have been conducted so far.

Billionaire Mukesh Ambani’s Reliance Jio, Sunil Mittal-led Bharti Airtel, Vodafone Idea and a unit of billionaire Gautam Adani’s flagship Adani Enterprises are in the race to bid for 5G spectrum,