5G Spectrum Auction Extends To Tomorrow: Rs 1.49 Lakh Crore Bids So Far: Minister
- The 5G spectrum auction sees bids worth Rs 1,49,454 crore so far, in nine rounds of bidding, said Telecom Minister Ashwini Vaishnaw.
- The auction extends to the third day and continue on Thursday, the Minister said.
- Day 2 of the 5G auction -- which would ring in new-age offerings and business models and enable ultra-high speeds, about ten times faster than 4G -- began at 1000 hours (10 am) and ended at 1800 hours (6 pm) with nine rounds.
- On Tuesday, four rounds of the auction were completed on day 1, which saw bids exceeding Rs 1.45 lack crore for 5G airwaves from groups run by tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani and Vodafone Idea on the first day on Tuesday.
- While the number of days the auction ultimately stretches to will depend on the demand for radiowaves and the strategy of individual bidders, the broad industry consensus was for it to end today, but will extend to tomorrow. It is expected that Reliance Jio could lead the spending, followed by Bharti Airtel, while analysts see limited participation from Vodafone Idea and Adani Group.
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Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
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Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
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AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
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The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
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Foreign Investors Own Half Of HDFC Bank and ICICI Bank. An LTCG Cut Could Matter Most Here
Foreign portfolio investors have US$115 billion parked in HDFC Bank, ICICI Bank. If the government cuts long-term capital gains tax, Jefferies says returning foreign money could land here first.
