5G spectrum auction reaches fourth day
29 July, 2022 | Pravina Srivastava
Government on Thursday received bids totaling Rs 1,49,623 crore, marking conclusion of the third day of 5G spectrum auction. The fourth day of auction is scheduled for today.
Government on Thursday received bids totaling Rs 1,49,623 crore, marking conclusion of the third day of 5G spectrum auction.
According to Union Minister of Communications, Electronics, and Information Technology, Ashwini Vaishnaw, the third day of auction saw 16 rounds of bidding. The fourth day of auction is scheduled for today.
Earlier on Tuesday’s first day of auction, bids totaling Rs 1.45 lakh crore were made. The first day’s spectrum bidding consisted of four rounds.
Auction saw five rounds on Wednesday, bringing the total to nine.
An additional seven rounds of bidding were held on the third day of the auction on Thursday, bringing the total to 16.
However, the 17th round of auction will kick off the fourth day.
The bid value was Rs. 1.45 lakh crore at the end of the first day. At the end of the second day, it reached Rs 1,49,454 crore, and at the end of the third day, it reached Rs 1,49,623 crore.
5G auction has four companies. Reliance Jio Infocomm Limited, Bharti Airtel Limited, Vodafone Idea Limited, and Adani Data Networks Limited are the companies in question.
Reliance Jio, which is managed by Mukesh Ambani, has been most aggressive in its bidding, followed by Bharti Airtel, which is led by Sunil Bharti Mittal.
Earnest money deposits (EMD) made by the companies are proof of this. The four businesses have together deposited Rs 21,800 crore as EMD.
The largest telecom provider in India, Reliance Jio Infocomm, is responsible for more than half of this sum. Bharti Airtel Limited has invested Rs 5,500 crore, followed by Reliance Jio Infocomm with Rs 14,000 crore in EMD.
For the 5G auction, Vodafone Idea Limited has put down Rs 2,200 crore as EMD, while Adani Data Networks has put down Rs 100 crore.
EMD figures provide a general overview of company’s strategy for acquiring the spectrum in an auction. Through the use of eligibility points, which the EMD establishes, telcos can target a certain amount of spectrum inside a defined circle.
Reliance Jio Infocomm has 1,59,830 eligibility points for the auction with an EMD of Rs 14,000 crore, according to DoT statistics. Bharti Airtel has been given 66,330 eligibility points, while Vodafone Idea Limited has been given 29,370. Adani Data Networks Ltd. received the fewest qualifying points, 1,650.