5G spectrum auction gets bids worth Rs 1.49 lakh cr

India’s auction of the 5G spectrum, capable of offering lag-free connectivity and ultra-high speed internet, has garnered Rs 1.49 lakh crore worth of bids so far as the sale stretched to the third day.

Firms run by tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani as well as Vodafone Idea had put in bids worth Rs 1.45 lakh crore on the opening day on Tuesday and incremental demand for airwaves came in five rounds held on Wednesday.

Telecom Minister Ashwini Vaishnaw said the second day of the auction has ended and it will continue on Thursday.

“I am happy to see good competition in auction, good competition for all bands have come in,” he said.