5G Auction in India starts : Day 1 ends with Reliance Jio, Bharti Airtel, VodaIdea & Adani
The bidding for 5G Spectrum Round 1 is now over, this is biggest auction of spectrum India have ever seen where auction for 72 GHz (gigahertz) of 5G airwaves worth ₹ 4.3 lakh crore has started today.
The Auction started at 1000 hrs and ended at 1800 hrs and will also continue tomorrow, government has expected that the procedure of allotment of 5G spectrum will finish by 14th August and the services are expected to rolled out by Sep-Oct 2022
In the first day of Auction telcos like Reliance Jio, Bharti Airtel & VodafoneIdea participated in addition to existing telcos Adani Data also participated in the bid on Day 1
Ernest money deposited by all the 4 Bidders combined amounts to Rs 21,800 Crores which is much higher to what was deposited for 4G Auctions.
Adani have entered into the Spectrum bidding for the first time which means that we can expect a new telco giant soon.
We can expect 5G to be rolled out in the year 2022 for sure. Days for even high speed data are coming in near future.