After a phenomenal start on July 26 when bids worth Rs 1.45 lakh crore were received in a single day, the response has been tepid in the following days.
The Centre received bids worth Rs 1,50,130 crore after a total of 37 rounds of bidding in the ongoing 5G Spectrum auction. The auction kicked off on July 26. July 31 saw seven rounds of bidding. At the end of five days, the government had received bids worth Rs 1,49,966 from Reliance Jio and Bharti Airtel. The total bids received on July 30 were to the tune of Rs 111-112 crore.
After a phenomenal start on Tuesday, July 26 when bids worth Rs 1.45 lakh crore were received in a single day, the response has been tepid in the following days. However, after conducting seven fresh rounds of auction on July 30, Saturday, the auction was extended to July 31, Sunday– a departure from the past when the auctions would take place only from Monday to Saturday.
Until July 29, Friday, 71% of the total spectrum put on the block has been sold.
Intense competition in Uttar Pradesh East circle
According to the industry sources, the pitched battle for the 1800 MHz spectrum in Uttar Pradesh East circle seems to be peaking as of now, pointing towards the auction reaching its final stages. Notably, the demand for the Uttar Pradesh East circle after surpassing the supply for the first three days receded below the supply level on July 30.
Earlier, the demand was for 75 blocks against the supply of 54 blocks. However, on July 30, the demand fell to 50 blocks, four less than the available supply in the UP East circle.