Bids worth `1.49 L cr received so far

The auction of 5G spectrum for ultra-high-speed internet services entered day four on Friday after garnering bids worth `1,49,623 crore in 16 rounds of bidding conducted so far.

The high interest for spectrum in the 1800 MHz band in Uttar Pradesh East circle saw Jio and Airtel locked in intense bidding on Wednesday and Thursday, sustaining the tempo and stretching the auction timelines beyond initial expectations. Billionaire Mukesh Ambani’s Reliance Jio, Sunil Mittal-led Bharti Airtel, Vodafone Idea and a unit of billionaire Gautam Adani’s flagship Adani Enterprises are in the race to bid for a 5G spectrum that offers speeds about 10 times faster than 4G, lag-free connectivity and can enable billions of connected devices to share data in real-time.