5G bidding sluggish on second day

The second day of the 5G spectrum auction on Wednesday was marked by limited action on the bidding front even as the Centre went on the overdrive to announce a massive Rs 1.64 lakh crore (trillion) support for ailing Bharat Sanchar Nigam Ltd. Total bids for the 5G spectrum auction moved up to Rs 1.49 lakh crore (trillion) by the end of the second day.

The bidding will continue on Thursday. The pace of bidding on the first day had raised expectations that the entire exercise would be over on Wednesday.

Total bids on the first day were Rs 1.45 lakh crore. “700 MHz has seen a good response, it has been sold this time. Good response in other low and mid bands as well,” telecom minister Ashwini Vaishnaw said.