New Delhi: The sale price of spectrum touched close to Rs 1.50 lakh crore on Saturday, the fifth day of the ongoing auction process for the allocation of 5G spectrum in the country. The auction process is likely to continue on Sunday as well. Telecom Minister Ashwini Vaishnav told reporters after attending an event in Mumbai that the total bids placed till the fifth day of the auction have been valued at Rs 1,49,966 crore.
Vaishnav said, “The ongoing auction process for 5G spectrum shows that the telecom industry is looking to expand. It has come out of trouble and is now on the path of growth. The auction results are very good and telcos have committed Rs 1,49,966 crore for spectrum purchase.
He said the good response from companies in the spectrum auction that began on Tuesday reflects the maturity of the industry. He said the reserve price fixed for spectrum is a reasonable price and the same is reflected in the auction results.
The Department of Telecom has offered to sell a 72 GHz spectrum worth a total of Rs 4.3 lakh crore in this auction. Apart from Reliance Jio, Bharti Airtel, and Vodafone Idea, Adani Enterprises is also participating in this auction.
