The auction is being held for spectrum in various low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz), and high (26 GHz) frequency bands.
Digital Desk: The 5G spectrum auction saw bids of Rs 1.45 lakh crore from Mukesh Ambani, Sunil Bharti Mittal, and Gautam Adani on the first day.
Moreover, the four applicants who participated in the 5G spectrum auction include Ambani's Reliance Jio, Mittal's Bharti Airtel, Vodafone-Idea, and an Adani group firm.
The 5G spectrum can enable billions of connected devices to share data in real-time and has extremely high speeds (about 10 times faster than 4G).
According to Telecom Minister Ashwini Vaishnaw, offers for the 700 MHz spectrum have also been received. The government received bids worth more than 1.45 lakh crore on Tuesday, Day 1 of the 5G spectrum auction.
The first-day bids "exceeded all expectations and surpassed 2015 records," the minister added.
The process prevents it from being revealed which company received how many airwaves until after the closing.
Four rounds of bidding were held on the first day of the auction, with mid-and high-end bands drawing a lot of attention. Strong bids were offered for the 3300 MHz and 26 GHz bands.
The telecom minister termed the four bidders' participation as "strong."
He noted that there was a solid turnout for the auction and added that this indicates that the industry has recovered from its challenging period. He stated that the government will distribute the spectrum in record time, and 5G services are expected to launch by September.
The Union minister said that the 5G spectrum must be allocated by August 14.
The fifth generation, or 5G, would enable solutions like e-health, connected vehicles, more immersive augmented reality and metaverse experiences, life-saving use cases, and advanced mobile cloud gaming, among others, according to PTI. It would also power ultra-low latency connections, which allow downloading full-length high-quality videos or movies to a mobile device in a matter of seconds (even in crowded areas).
It may be mentioned that the auction is being held for spectrum in various low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz), and high (26 GHz) frequency bands.
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