Newsx latest news : At the conclusion of the second day of auction for 5G telecom spectrum, bids totaling Rs 1,49,454 crore had been received. The bids for the much anticipated spectrum sale have been extended for a third day.
5G spectrum auction brought in Rs 71,639.2 crore more than 4G spectrum sale of 2021, according to a comparison of two-day numbers. It is higher by 92.06 percent in percentage terms. The auction saw five rounds on Wednesday, bringing total to nine. Earlier, it was anticipated that sale would end on Wednesday, the second day.

The bids submitted so far are roughly twice as many as those submitted for 2021 4G spectrum auction. The winning bid for 4G spectrum auction in March 2021 was Rs 77,814.80. In 2021, the auction was finished in just two days.
Ashwini Vaishnaw, union minister for communications, electronics, and information technology, provided details on auction’s second day on Wednesday “This time, 700 MHz has been sold due to the positive response. Other low and mid bands also responded favourably.”
However, 5G spectrum auction, in which spectrum will be allotted to bidders to deliver 5G services to public and businesses, was recently authorised by Union Cabinet, which is presided over by Prime Minister Narendra Modi.