The government received bids worth Rs 1,49,623 crore at the end of day three of the 5G spectrum auction on Thursday.
According to Union Minister of Communications, Electronics and Information Technology Ashwini Vaishnaw, 16 rounds of biddings were completed till the end of the third day of the auction. The auction will continue on the fourth day on Friday.
On the opening day of the auction on Tuesday bids worth Rs 1.45 lakh crore were received. Four rounds of spectrum bidding were done on the first day. Wednesday saw five rounds of the auction, taking the total rounds to nine.
On the third day of the auction on Thursday, another seven rounds of the auction were conducted taking the number to 16. The fourth day of the auction will start with the 17th round on Friday. Four firms are in the fray for the 5G auction: Reliance Jio Infocomm Limited, Bharti Airtel Limited, Vodafone Idea Limited and Adani Data Networks Limited. Reliance Jio has been the most aggressive in the bids followed by Bharti Airtel.