5G spectrum auction enters Day 2: Jio may be lead bidder

With better than expected Rs 1.45 lakh crore bids coming in on the first day, the auction of 5G spectrum entered the second day on Wednesday with the opening of the fifth round.

Firms run by tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani as well as Vodafone Idea are participating in the e-auction to buy fifth-generation (5G) airwaves.

The government received confirmed spectrum bids worth Rs 1.45 lakh crore after the completion of four rounds of spectrum bidding on the opening day on Tuesday.

Analysts said Ambani’s Reliance Jio may be the most aggressive of those in the race.