5G spectrum: Fifth round of bidding underway, auctions may conclude today

NEW DELHI: After a better-than-expected response from players on the opening day, the 5G spectrum auctions entered the second day on Wednesday, with the fifth round of bidding currently underway. Firms run by tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani as well as Vodafone Idea had put in bids of about Rs 1.45 lakh crore to buy fifth-generation (5G) airwaves on Tuesday.

Telecom minister Ashwini Vaishnaw said the response on the first day exceeded all expectations and will surpass the record of 2015, when revenue collection from auction stood at Rs 1.09 lakh crore.

Notably, even the 700 MHz band, which had not seen any takers in the 2016 and 2021 auctions, received bids this time.