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Bids cross Rs 1.5 Lakh cr mark
The auction of 5G spectrum capable of offering ultra-high-speed internet received bids worth Rs 1,50,130 crore until Sunday amid pick-up in demand for radiowaves in the UP East circle, pushing the bidding to seventh day on Monday.
New Delhi: The auction of 5G spectrum capable of offering ultra-high-speed internet received bids worth Rs 1,50,130 crore until Sunday amid pick-up in demand for radiowaves in the UP East circle, pushing the bidding to seventh day on Monday.
Seven new rounds of bidding held on the sixth day of auction on Sunday 'dialled in' an incremental Rs 163 crore, propelling the cumulative spectrum sale beyond the Rs 1.50 lakh crore-mark.
The auction has fetched provisional bids worth Rs 1,50,130 crore in the first six days, according to data released by the telecom department. Sources said that after a relative easing of demand on Saturday, the UP East circle - which includes Lucknow, Allahabad, Varanasi, Gorakhpur, Kanpur - saw bidding activity pick-up once again for 1800 MHz, a band primarily used by telcos for 4G services.
UP East - which has over 10 crore mobile subscribers - accounted for all of the incremental spectrum sales on Sunday, amid a pitched battle for radiowaves among players such as Reliance Jio and Bharti Airtel.
