Everyone is watching the ongoing 5G spectrum auction with great interest to see who will secure the rights to the 72 gigahertz of radiowaves valued at 4.3 lakh crores that are up for grabs.
According to PTI, the bidding process started at 10 am and lasted till 6 pm. Four companies are taking part in the auction: Reliance Jio, Bharti Airtel, Vodafone Idea, and a branch of Gautam Adani Enterprises, the billionaire's holding company.
The telecom government anticipates the auctions to bring in anywhere from 70,000 to 1 lakh crores. The actual demand for the radiowaves will determine how many days there will be an auction.