Record Rs 1.5 lakh crore from 5G spectrum sale; Jio top bidder

A record over Rs 1.5 lakh crore worth of 5G telecom spectrum was sold in a seven-day auction ending on Monday, which saw billionaire Mukesh Ambani’s Jio emerging as the top bidder to consolidate its leadership position.

Sources with direct knowledge of the matter said provisional data puts the total bids at Rs 1,50,173 crore.

The mop-up from the 5G spectrum, capable of offering ultra-high speed mobile internet connectivity, is almost double at Rs 77,815 crore worth 4G airwaves sold last year and triple of Rs 50,968.37 crore garnered from a 3G auction in 2010.