The public sale of 5G spectrum capable of delivering lightning-fast web deals was priced at around Rs 1,49,966 crore on the fifth day of the sale on Saturday and bidding is expected to continue on Sunday. . The aggregate value of bids under the telecoms spectrum public sale, which started on Tuesday, edged closer to the Rs 1.50 lakh crore mark.
“The public sale of 5G shows that the company wants to expand, it has come out of problems and is directly entering a development phase. The results of the public sale are excellent, nearly Rs 1,49,966 crore has been spent by the company for spectrum purchase,” Telecom Minister Ashwini Vaishnaw said during a briefing in Mumbai, after a table round of telecom operators.
The Minister mentioned that the public sale and its “good response” underline the maturity of the company. Billionaire Mukesh Ambani’s Reliance Jio, Sunil Mittal-led Bharti Airtel, Vodafone Concept and a unit of billionaire flagship Gautam Adani Adani Enterprises are in the race to bid for 5G spectrum, which offers speeds about 10 times faster than 4G , lag-free connectivity and could enable billions of related gadgets to share knowledge in real time.
In addition to powering ultra-low latency connections, which can download high-quality full-length videos or movies to a cellular gadget in seconds (even in crowded areas), the Fifth Era or 5G would allow options reminiscent of e-health, related cars, more immersive augmented reality and metaverse experiences, life-saving use cases, and superior cellular cloud gaming, among others.
The reserve value set for the spectrum is an “honest quantity” and the same is apparent from the end result of the public sale, the minister said. Gradually, Rs 111-112 crore arrived on Saturday, with the provisional proceeds rising from the Rs 1,49,855 crore acquired till Friday from players like Reliance Jio and Bharti Airtel. Trade analysts citing information from the telecommunications ministry said demand in East Uttar Pradesh – which had peaked in the past three days – fell below delivery ranges on Saturday.
Previously, demand was 75 blocks against availability of 54 blocks, consultants said, adding that under the recent report, demand was 50 blocks, 4 less than availability in the circle. The bid-offer sample in East Uttar Pradesh indicated that the bidding exercise could also show signs of a slowdown, although the scenario is likely to be clearer on Sunday morning. Seven recent rounds were played on Saturday, and bidding will resume on Sunday (a departure from the same old practice) with the thirty-first round. As of Friday, around 71% of the full spectrum put on the block had been tentatively offered.
After a flight start on Tuesday that saw players pay Rs 1.45 lakh crore on the first day, the numbers only rose gradually on Wednesday, Thursday, Friday and Saturday as Jio and Airtel engaged in intense bidding in the eastern circle of Uttar Pradesh for 1800 MHz band in past days. A total of 72 GHz (gigahertz) of radio waves costing no less than Rs 4.3 lakh crore are on the block. Public sale is organized for spectrum in many low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz), medium (3300 MHz) and excessive (26 MHz) frequency bands. GHz). .
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READ ALSO | India’s Biggest Spectrum Auction Begins; 5G wave price Rs 4.3 lakh cr on supply
