IIFL Institutional Equities feels that 700 Mhz band has lost its importance for the moment because all operators already have some spectrum or the other, said GV Giri of the firm.

Operators like Jio have 850 Mhz band which serves the same purpose and Bharti, Vodafone and Idea have 900 Mhz, which is similar, Giri said.

"I do not see operators scrambling to buy 700 Mhz," said Giri.

The telecom regulator Trai on Wednesday recommended a 43 percent cut in the price of 700 Mhz spectrum to Rs 6,568 crore.

“I cannot believe that people will pay Rs 230,000 crore and buy the spectrum," said Giri.

According to him, 5G is probably two-three years away.

Trai also recommended pan India base price of Rs 492 crore per megahertz for 5G radiowaves,

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