Spectrum auction finally fetches ₹1.50-lakh crore by end of day 6

S Ronendra Singh | Updated on: Jul 31, 2022
The government is expected to allocate the spectrum to the companies as soon as the auctions are over and start rolling out 5G services from September-October

The government is expected to allocate the spectrum to the companies as soon as the auctions are over and start rolling out 5G services from September-October | Photo Credit: sarayut

To continue on Monday with round 38

The telecom spectrum auction continued for the sixth day on Sunday and the bidding touched ₹1,50,130 crore, an incremental value of ₹163 crore from Saturday’s closing.

The day ended with round 37 and the action continues in the 1800 MHz band in Uttar Pradesh East circle, as interested operators continued to bid, which can get maximum return on investment in the future, for them. The auction will begin with round 38 on Monday morning, said senior officials at the Department of Telecommunications. After a flying start on Tuesday that saw players pouring in ₹1.45-lakh crore on the first day, the numbers moved up incrementally over the week.

The auction was held on Sunday, a first in the history, as telecom service providers (TSPs) requested the government in an attempt to conclude the bidding the same day. However, there is intense competition between Mukesh Ambani-led Reliance Jio and Sunil Mittal-led Bharti Airtel in the 1800MHz band in the UP-East circle.

Published on July 31, 2022
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