At the end of the day five of the telecom spectrum auction, overall bids received by the government reached Rs 94,000 crore.

On Monday, seven rounds of bidding were completed, taking the total rounds of bidding during the auctions so far to 31.

The bidding took place in all bands. Eight firms – Airtel, Vodafone, Idea Cellular, Reliance Communications, Aircel, Reliance Jio Infocom, Uninor and Tata Teleservices -- are in the fray to acquire spectrum in four bands — 800 MHz, 900 MHz, 1,800 MHz and 2,100 MHz.

“The bidding has taken place in all bands. At present, a value of approximately Rs 94,000 crore has been committed by bidders in respect of provisionally won spectrum," The Ministry of Communications and IT said in a official release.

The auction will resume on Tuesday morning as there is still unsold spectrum left.

The government had initially estimated to raise about Rs 82,000 crore from the ongoing sale of 2G and 3G airwaves, which was exceeded on fourth day of the auction.

At the end of Day 4, 24 rounds of bidding were completed during which the government received commitments from telecom players totalling Rs 86,000 crore.

It is now expected to garner in excess of Rs 1 lakh crore.

The auction is the biggest ever sale of 2G and 3G airwaves. A total of 380.75 MHz of spectrum is on offer in the premium 900 MHz band, 1,800 MHz and 800 MHz while 5 MHz is up for bidding in the 2,100 MHz band across 17 out of 22 telecom areas or circles in the country.

Most of the spectrum put up for auction is presently held by Airtel, Vodafone, Idea Cellular and Reliance Telecom. Their licences are expiring in 2015-16.

The government had raked in Rs 62,162 crore from the last spectrum auction held in February 2014.