Govt receives bids worth Rs 1.49 trn in 5G spectrum auction so far

Bids worth Rs 1.49 trillion have been received for buying 5G telecom spectrum on the second day of the auction, Union minister Ashwini Vaishnaw said on Wednesday.

The ninth round of bidding is on, the Telecom Minister said.

The government had received spectrum bids worth Rs 1.45 trillion after the completion of four rounds of spectrum bidding on the opening day on Tuesday.

Firms run by tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani as well as Vodafone Idea are participating in the e-auction to buy fifth-generation airwaves.

Analysts said Ambani’s Reliance Jio may be the most aggressive of those in the race.