India’s largest spectrum auction concluded on Monday. In this seven-day auction, Rs. A record sale of over 1.5 lakh crore worth of 5G telecom spectrum has taken place. Billionaire businessman Mukesh Ambani’s company Jio (Jio) was the highest bidder in this auction, with a total bid of Rs 1,50,173 crore reported.
Double the revenue in 5G compared to 4G
The auction amount of 5G spectrum offered for high-speed internet was Rs. 77,815 crore is almost double the 4G spectrum. This amount is over and above the 3G auction proceeds of Rs. 50,968.37 crore three times as compared to Rs. This amount is over and above the 3G auction proceeds of Rs. 50,968.37 crore three times as compared to Rs. Reliance Jio has offered the highest price for 5G spectrum radio frequencies. It is followed by Bharti Airtel and Vodafone Idea Limited.
Adani’s first entry
According to a PTI report, the Adani group has bought 26 MHz of spectrum to set up a private telecom network. However, the details of which company bought the spectrum will be known only after the full details of the auction are released.
The government offered spectrum in 10 bands, but there were no bids for spectrum in the 600 MHz, 800 MHz and 2300 MHz bands. About two-thirds of the applications were for the 5G bands (3300 MHz and 26 GHz). More than a quarter of the demand was for the 700 MHz band. The band did not sell in the last two auctions (2016 and 2021).