5G Spectrum Auction 2022 Day 4: Bids Rise to Rs 1,49,855 Crore after 23 Rounds

5G Spectrum Auctions will continue for a straight fifth day on July 30, 2022. Today was the fourth day, where after 23 rounds of bidding, the telcos have spent a total of Rs 1,49,855 crore. On day 3, the cumulative bid amount was Rs 1,49,623 crore. The telecom minister Ashwini Vaishnaw, as per Livemint, said that a total of 23 rounds of bidding had been completed at the end of the fourth day. During the curtain raiser of the Indian Mobile Congress 2022, Vaishnaw said that the 5G spectrum auction has seen a great response and thanked the telecom industry for that. Further, the telecom minister said that it was great to see telcos pushing for spectrum for 4G services as well.

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At the end of the spectrum auction, Jio will emerge as the bidder who spent the most money on airwaves across several bands. Every telco had its own strategy. The Adani Group’s Adani Data Network bid for a very small amount of spectrum only meant for 5G. The telcos, on the other hand, have focused on getting spectrum to strengthen their current operations. Well, the spectrum auctions have still not ended. The government will be very happy to see the response of the bidders as it is going to put a lot of money in the pocket of the DoT (Department of Telecommunications).