New Delhi [India], June 25 (ANI): The government is all set to hold the 5G spectrum auction on June 25, 2024, the Ministry of Communication said in an official statement.
It said the government is aiming at providing affordable and high-quality telecom services to the people in India.
The invitation for the spectrum auction was initiated on March 8 this year, but the date of the auction was postponed twice. Initially, May 20 was set as the auction date.
The Department of Telecommunications has named three prominent players Bharti Airtel, Vodafone Idea, and Reliance Jio Infocomm as the final bidders in the spectrum auction of 10,523.15 MHz of 5G airwaves worth Rs 96,317.65 crore in eight key bands.
According to the list issued earlier, the Earnest Money Deposit (EMD) amount by Airtel is Rs 1,050 crore, Vodafone Idea’s EMD amount is Rs 300 crore, and Reliance Jio Infocomm Ltd has an EMD amount of Rs 3,000 crore.
Reliance Jio has 21,363 eligibility points, Vodafone Idea has 2,200 points, and Airtel has 7,613 points, according to the Department of Telecommunications.
As per the notification earlier by the department, the companies that do not currently own any spectrum acquired through prior auctions in a certain circle or band and whose licences and spectrum expire in calendar 2024 will be considered ‘new entrants’ in the sale.
Under the current auctioning, bidding will be done for 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300 MHz, and 26 GHz.
As per the government, the spectrum will be assigned for a period of twenty (20) years. Successful bidders will be allowed to make payments in 20 equal annual installments. The interest rate for deferred payments in this auction will be 8.65 percent.
In July 2022, the government raised more than Rs 1.5 lakh crore during the first-ever 5G auction in India, which was the last spectrum sale. At reserve prices, it had provided 20 years of airways across 10 5G bands at a frequency of over 72 GHz.
The fifth-generation mobile network, or 5G, has the capacity to send massive amounts of data quickly. 5G offers extremely low latency compared to 4G and 3G, which will improve user experiences across a range of industries. 5G services are anticipated to be ten times faster than 4G. (ANI)
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