5G spectrum auction fetches just 12% of targeted revenue

NEW DELHI: The Central government’s second 5G spectrum action on Wednesday saw subdued bidding by telecom companies, which collectively bid Rs 11,340 crore for a total 141.4 MHz of airwaves. The bid value amounts to just 12% of the reserve price of Rs 96,238 crore. The auction concluded in two days with seven rounds of bidding.

Bharti Airtel emerged the top bidder by acquiring airwaves worth Rs 6,856.76 crore, followed by Vodafone Idea at Rs 3,510 crore. India’s largest telecom operator Reliance Jio had deposited the highest earnest money of Rs 3,000 crore but it bid only Rs 973.62 crore to pick up additional spectrum.