Adani and Reliance Jio are two contenders for the airwaves.
The telecom government anticipates the auctions to bring in anywhere from Rs.70,000 to Rs.1 lakh crores.
Everyone is watching the ongoing 5G spectrum auction with great interest to see who will secure the rights to the 72 gigahertz of radiowaves valued at Rs.4.3 lakh crores that are up for grabs.
According to PTI, the bidding process started at 10 am and lasted till 6 pm. Four companies are taking part in the auction: Reliance Jio, Bharti Airtel, Vodafone Idea, and a branch of Gautam Adani Enterprises, the billionaire's holding company.
The telecom government anticipates the auctions to bring in anywhere from Rs.70,000 to Rs.1 lakh crores. The actual demand for the radiowaves will determine how many days there will be an auction.
Spectrum in a number of low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, and 2300 MHz), mid (3300 MHz), and high (26 GHz) frequency bands will be up for auction.
Reliance Jio, owned by Mukesh Ambani, is anticipated to spend the most money, followed by Bharti Airtel. Analysts anticipate little involvement from Vodafone Idea and Adani Group.
The EMD of all four applications vying for 5G radiowaves this time totals Rs.21,800 crore, which is a significant increase over the Rs.13,475 crore submitted in the 2021 auction when there were only three competitors.
Reliance Jio has submitted an EMD of Rs.14,000 crore, the largest among the four competitors for the spectrum, in accordance with information made public by the department on July 18 as part of the list of pre-qualified bidders.
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