The 5G spectrum auction in India officially began yesterday, and after four rounds of bidding on Day 1, we have a few updates to report. The spectrum allocation is expected to be completed by August 15.
Day 1 Updates on the 5G Spectrum Auction in India
The government got a bid value of roughly Rs 1.45 lakh crore, which surpassed expectations. To recall, the highest bid amount in 2015 was Rs 1.09 lakh crore. Reliance Jio, Bharti Airtel, Vodafone Idea (Vi), and, for the first time, the Gautam Adani-led Adani Group are among the bidders.
5G services, which will be quicker than 4G, are scheduled to begin rolling out in many places by the end of this year, which has been long-held anticipation.
Hope to complete spectrum allocation by Aug 15; 5G services expected in many cities by 2022-end: Telecom Minister
— Press Trust of India (@PTI_News) July 26, 2022
The bids for the 700MHz band frequencies may have also been received, which was unexpected, according to India’s telecom minister Ashwini Vaishnaw. The 5G band frequencies for the mid-band (3.3-3.67 GHz) and high-band (26 GHz) bids were where they were most heavily focused. At the basic price, the bids were placed.
In a press release, Vaishnaw said: “We had four rounds today and have seen good participation from all bidders. We have crossed the previous revenue record (from auctions) at around Rs 1.45 lakh crore so far (from this year’s auction).“
This time, the Indian government has offered 72GHz of 5G airwaves for a 20-year term, including 5G bands ranging from 600MHz to 26GHz. Jio is estimated to invest more than Rs 70,000 crore, Airtel between Rs 40,000 and Rs 50,000 crore, Vi between Rs 17,000 and Rs 20,000 crore, and Adani Group between Rs 800 and Rs 1,000 crore.
The spectrum is expected to be completed today, on Day 2 of the procedure. More information will be released soon.
