5G spectrum auction ends; provisional sale amount at Rs 1.5 lakh crore

India’s biggest ever auction of airwaves ended on August 1, with spectrum worth Rs 1,50,173 crore being sold, sources said.

The auction that stretched into seven days ended this afternoon, the sources with direct knowledge of the matter said.

The provisional figure for the sale proceeds is Rs 1,50,173 crore and the final numbers are being tallied, they added.

The auction of spectrum that supports 5G services in India started on July 26, with about 72,000 MHz under nine bands up for sale with a validity period of 20 years.

The response on Day 1 of the auction shows that the telecom industry has "turned the tide and is now growing into a sunrise industry", Vaishnaw said. "It will focus on investment and providing better quality of service," CNBC TV18 quoted him as saying.

Four rounds of auction were completed today, the minister noted, adding that "strong bids" were received from the applicants. Four bidders were in the fray — Reliance Jio, Bharti Airtel, Vodafone Idea and Adani Data.

Read more - 5G spectrum auction: All you need to know about it

On July 27, on day one of the 5G spectrum auction, the 700MHz (megahertz) band, which no one had bid for in the previous two spectrum auctions in 2016 and 2021, suddenly rose to become the belle of the ball. In this auction, 40% of this band was bid for Rs 39,300 crore.

Read More - 5G Auction: Why the sudden interest in 700MHz?

Mukesh Ambani-led Reliance Jio has been the most aggressive in the bids followed by Sunil Bharti Mittal-led Bharti Airtel.

(With inputs from PTI & ANI)