Telecom spectrum auction sees subdued start with Rs 11,000 crore bids on day 1

The auction of mobile service radio waves commenced with subdued activity on Tuesday, as telecom companies bid approximately Rs 11,000 crore in five rounds.

The government has placed over 10,500 MHz spectrum across eight frequency bands, valued at Rs 96,238 crore at base price, up for auction.

Telecom giants Reliance Jio, Bharti Airtel, and Vodafone Idea (VIL) are competing for spectrum crucial for high-speed 5G mobile services, marking the first such auction in nearly two years.

On the first day, bidding mainly focused on the 900 MHz and 1800 MHz bands, with some activity in the 2100 MHz band across three circles.