5G spectrum auction: Bid amount exceeds Rs 1.45 trillion on Day 1

700-MHz among major 5G airwaves sold on opening day

The opening day of the biggest telecom auction in the country ended with top telecom firms buying spectrum worth more than Rs 1.45 trillion across frequency bands including 5G. Even the much-acclaimed and expensive 700-MHz spectrum was picked up by telecom players.

The bidding was mostly pegged at the base price. Reliance Jio, Bharti Airtel, Vodafone Idea and Adani Group are in the fray to get 5G spectrum that would allow them to offer broadband at a speed ten times higher than 4G. Communications minister Ashwini Vaishnaw called the bidding “active’’ and participation “strong’’. He told reporters that spectrum worth