The second day of India’s largest spectrum auction for 72 GHz (gigahertz) of 5G airwaves worth ₹4.3 lakh crore is underway.
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The 5G spectrum auction is seeing bids worth Rs 1,49,454 crore, in nine rounds of bidding so far, Telecom Minister Ashwini Vaishnaw said.
The auction continues until the third day and will continue on Thursday, according to the minister.
Day 2 of the 5G auction-that would yield new offers and business models and make ultra-high speeds possible, started about ten times faster than 4G-started at 1000 hours (10 hours) and ended at 1800 (18 hours)) with Nine laps.
On Tuesday, four rounds of the auction were completed on day 1, where bids of more than RS 1.45 crore were missing for 5G ethgot waves from groups run by Tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani and Vodafone Idea on the first day Tuesday.
Although the number of days that the auction ultimately lasts will depend on the demand for radio waves and the strategy of individual bidders, the broad consensus in the sector was that the auction would end today, but would last tomorrow. Reliance Jio is expected to lead spending, followed by Bharti Airtel, while analysts see limited participation from Vodafone Idea and Adani Group.