It is the mid-band spectrum that is going to make the most impact for 5G on a large scale. The mid-band spectrum in the 3.3 GHz to 3.67 GHz range saw strong bidding on the first two days of the auction. Telcos can use this frequency range to offer 5G with both proper coverage and proper speeds. According to ICICI Securities, Reliance Jio has likely increased the bid quantity to 130 MHz in the 3300 MHz spectrum band during day 2 in eight circles. In the same circle, Airtel will own airwaves below 3400 MHz frequency where the ecosystem is relatively weak.
On day 2, ICICI Securities said that there was aggressive bidding for the airwaves in the 1800 MHz band, which is not a shocker. In the Uttar Pradesh (UP) circle, the analyst said that the reserve price of the 1800 MHz band went up by 7.7%. There was also aggressive bidding for 2100 MHz band airwaves.
The cumulative bids for this spectrum auction have gone up to Rs 1,490 billion in the first two days. There will be bidding on the third day as well, which is today. So the additional spectrum which was bid for during the second day was in the following bands - 3300 MHz, 1800 MHz, and 2100 MHz.
For the 2100 MHz band, the spectrum was bid in four circles, the analyst said. These four circles were Haryana, Kerala, W.B. and Bihar. Vodafone Idea may have bought more spectrum in the 26 GHz taking its total holdings in the particular band to 800 MHz.
How Much have Jio, Airtel and Vodafone Idea Spent So Far
According to the estimates of ICICI Securities, Bharti Airtel may have spent a total of Rs 461 billion so far, while Jio's total spending may be around Rs 843 billion, and VIL's total output could be around Rs 184 billion. The bidding for day 3 is going on, and the auctions might conclude early today as most of the purchases have been made by the telcos already.