Bharti Airtel is the second biggest bidder in the 5G spectrum action. (Representational)
The fifth generation (5G) telecom services is likely to be launched in India by October this year as the government on Monday successfully completed the spectrum auction mopping up over Rs 1.50 lakh crore in bids by four companies including Reliance Jio, Bharti Airtel, Vodafone Idea and Adani Data Networks.
Addressing a media briefing after the end of the bidding for 5G spectrum, Union Minister of Communications, Electronics and Information Technology Ashwini Vaishnaw said out of the total 72,098 MHz of spectrum on offer, 51,236 MHz or around 71 per cent has been sold in the auction.
A total of 40 rounds of bidding were conducted in the past seven days. The total value of the bid stands at Rs 1,50,173 crore.
Talking to ANI, Mr Vaishnaw said the allocation of the spectrum to the successful bidders would be done by August 10 and the 5G services are likely to be launched in the country by October this year.
"Auction has been completed and in the next few days, till August 10, all formalities including approving and allocating the spectrum will be done," he said.
"It seems we would be able to launch 5G in the country by October. The ongoing 5G spectrum auction indicates that the country's telecom industry has come a long way in 5G advancements," the minister said.
Mr Vaishnaw said that better availability of spectrum will improve the quality of telecom services in the country.
Reliance Jio Infocomm Limited has made bids worth Rs 88,078 crore accounting for 58.65 per cent of the total value of Rs 1,50,173 crore received by the government in the 5G spectrum auction.
Jio has made bids to acquire 24,740 MHz spectrum in 700 MHz, 800 MHz, 1800 MHz, 3300 MHz and 26 GHz.
Bharti Airtel has made bids worth Rs 43,084 crore to acquire 19867.8 MHz spectrum in 900 MHz, 1800 MHz, 2100MHz, 3300 MHz and 26 GHz frequency bands.
Vodafone Idea Limited has made bids worth Rs 18,799 crore to acquire 6,228 MHz spectrum in 1800 MHz, 2100 MHz, 2500 MHz, 3300 MHz and 26 GHz.
Four firms are in the fray for the 5G auction. Adani Data Networks Limited has made bids worth Rs 212 crore to acquire 400 MHz spectrum in 26 GHz frequency band.
Reliance Jio has made bids to acquire 24,740 MHz spectrum in 700 MHz, 800 MHz, 1800 MHz, 3300 MHz and 26 GHz.
Reacting on the auction results, Akash M Ambani, Chairman, Reliance Jio Infocomm, said: "We have always believed that India will become a leading economic power in the world by adopting the power of breakthrough technologies. This was the vision and conviction that gave birth to Jio. The speed, scale and societal impact of Jio's 4G rollout is unmatched anywhere in the world. Now, with a bigger ambition and stronger resolve, Jio is set to lead India's march into the 5G era."
"We will celebrate 'Azadi ka Amrit Mahotsav' with a pan India 5G rollout. Jio is committed to offering world-class, affordable 5G and 5G-enabled services. We will provide services, platforms and solutions that will accelerate India's digital revolution, especially in crucial sectors like education, healthcare, agriculture, manufacturing and e-Governance," Mr Ambani said in a statement.
Bharti Airtel has made bids worth Rs 43,084 crore to acquire 19867.8 MHz spectrum in 900 MHz, 1800 MHz, 2100MHz, 3300 MHz and 26 GHz frequency bands in the 5G spectrum auction that concluded on Monday.
Bharti Airtel is the second biggest bidder in the 5G spectrum action. Reliance Jio is the biggest bidder accounting for 58.65 per cent of the total valued at Rs 1,50,173 crore.
"Airtel is delighted with the results of the 5G auction. This spectrum acquisition at the latest auction has been a part of a deliberate strategy to buy the best spectrum assets at a substantially lower relative cost compared to our competition," Gopal Vittal, MD & CEO, Bharti Airtel, said in a statement.
"This will allow us to raise the bar on innovation and address the emerging needs of every discerning customer who demands the best experience in India. We are confident that we will be able to deliver the best 5G experience in India in terms of coverage, speeds and latency," he said.
Mr Vittal said the new spectrum acquired through the auction would allow Bharti Airtel to change a lot of established paradigms for both B2C and B2B customers.
"5G technology is the revolution that can alter India's manufacturing, services and several other sectors. We remain fully committed to the Government's Digital India vision and will continue to do what is needed to ensure that India becomes a beacon for the world in terms of technology," Mr Vittal said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)