Reliance Jio likely bid highest for 5G spectrum at Rs 80,100 cr; total bid amount tops Rs 1.45 lakh cr

Telecom operators poured in bids worth Rs 1.45 lakh crore for spectrum in 5G and other bands on the first day of auction. Telecom minister Ashwini Vaishnaw said that the first-day proceeds surpassed the government’s internal estimates. However, the amount did not exceed the reserve price in any of the bands. According to analysts at ICICI Securities, Spectrum auction day-1 concluded on a negative note as operators picked spectrum worth Rs 1.45 lakh crore, which reflects a modicum of investment indiscipline. Mukesh Ambani’s Reliance Jio has likely bid highest for spectrum worth Rs 80,100 crore, and likely opted for 10MHz airwaves in 700MHz band. Meanwhile, Bharti Airtel may have bid for spectrum worth Rs 45,000 crore and spent 20% more than analysts’ base case.