5G Spectrum Auction Starts From Today Among Reliance, Airtel, Vi & Adani
5G spectrum auction: India will soon have 5G services which will be 10x faster than existing 4G networks. 4 companies (including Adani) are in the bidding race.
A 5G spectrum auction will begin on Tuesday as part of the nation’s communication revolution, and four businesses, including Reliance Jio and Bharti Airtel, will participate.
Bids for 72 GHz spectrum worth Rs. 4.3 lakh crore are expected at this time. On Tuesday, the bidding procedure will begin at 10 am and last until 6 pm.
Also Read: The major rollout of the 5G service in India
According to DoT sources, the amount of spectrum bids received and the bidders’ strategies will determine how long the auction procedure lasts. By the end of August, the government hopes to have 5G service operational.
₹ 1,00,000 Crore Bid Expected
The market anticipates that this auction will last two days and that the sale of spectrum will be close to the reserve price.
In addition to the current telecom service providers Reliance Jio, Bharti Airtel, and Vodafone Idea, Gautam Adani’s company Adani Enterprises will also submit a bid for 5G in this round of the spectrum auction.
The 5G spectrum auction is predicted to bring in between ₹ 70,000 and ₹ 1,00,000 crore for the Department of Telecommunications.
High-speed internet access will be made available after 5G services are implemented across the nation. The speed of 5G services will be roughly ten times that of current 4G services.
During the auction, Reliance Jio is anticipated to spend more money. With Vodafone Idea and Adani Enterprises having only a small amount of involvement, Airtel is also anticipated to finish first.
₹21,800 Crore Bet By 4 Companies
According to market commentators, the chances of vigorous bidding during the auction are modest. This is so because there are only 4 bids, even if there is enough spectrum available.
Adani Enterprises has only put up a deposit of ₹100 crore, compared to Reliance Jio’s ₹14,000 crore for the department’s auction.
Adani Group had stated at the start of this month that its corporation would participate in the 5G spectrum auction.
Together, it was explained that he would support his firm using this private network and that its service would be used in data centers, airports, and the power industry.
Sunil Mittal of Bharti Airtel has also put up ₹5,500 crores for the auction, and Vodafone-Idea has put up ₹2,200 crores in the division on their behalf.