new delhi indias largest ever auction of spectrum used to carry mobile signals saw bids of rs 145 lakh crore for 5g airwaves from groups run by tycoons mukesh ambani sunil bharti mittal and gautam adani on the first day on tuesdayall four applicants ambanis reliance jio mittals bharti airtel vodafoneidea and an adani group firm actively participated in the auction of 5g spectrum that offers ultrahigh speeds about 10 times faster than 4g lagfree connectivity and can enable billions of connected devices to share data in realtimebids were also received for 700 mhz band telecom minister ashwini vaishnaw told reportersthe government received bids worth over rs 145 lakh crore on the first day of bidding exceeding all expectations and surpassing 2015 records he saidas per the process it will not be known until the close which company bagged how much of airwavesfour rounds of bidding were held on the opening day with mid and highend bands seeing keen interest the 3300 mhz and 26 ghz bands attracted strong bidsthe telecom minister described the participation of four bidders as strong the auction saw healthy participation he said adding the response shows that the industry has turned from its difficult timesthe government he said will allocate the spectrum in record time and 5g services are expected to start rolling out by septemberthe target is to allocate the spectrum by august 14 he saidin addition to powering ultralow latency connections which allow downloading fulllength highquality video or movie to a mobile device in a matter of seconds even in crowded areas fifth generation or 5g would enable solutions such as ehealth connected vehicles more immersive augmented reality and metaverse experiences lifesaving use cases and advanced mobile cloud gaming among othersthe auction is being held for spectrum in various low 600 mhz 700 mhz 800 mhz 900 mhz 1800 mhz 2100 mhz 2300 mhz mid 3300 mhz and high 26 ghz frequency bandsthe auction will continue on wednesday