Home Business Spectrum auction: Telcos place bids worth Rs 77,815 cr; Jio biggest buyer...

Spectrum auction: Telcos place bids worth Rs 77,815 cr; Jio biggest buyer | ABWorldNews

The auction of telecom spectrum concluded on Tuesday and airwaves worth Rs 77,814.80 cr were bought in two days, Telecom Secretary Anshu Prakash said on Tuesday.

The official said spectrum auction concluded on Tuesday at 12.45 pm after 6 rounds of bidding. Bids were received in 800 MHz, 900 MHz, 1800 MHz, 2100 MHz and 2300 MHz bands but there were no takers for the airwaves in the premium 700 and 2500 MHz bands.

About one-third of the spectrum being auctioned is in the 700 MHz band, which was completely unsold during the 2016 auctions.

The spectrum usage charge levied on the airwaves sold will be 3 per cent.

Reliance Jio emerged as the biggest buyer, placing orders for Rs 57,122.65 cr of spectrum. The company had placed bids for 488.35 MHz spectrum in the auction.

Meanwhile, Vodafone Idea Ltd (VI) bought spectrum worth Rs 1,993.40 cr in the auction. It had placed bids for 0.8 MHz spectrum in the auction. VI said the spectrum acquired by it is in five circles and will help boost 4G coverage and capacity.

Bharti Airtel in a seperate statement on Tuesday said it has picked up radiowaves worth Rs 18,699 crore in the auction.

Airtel said the spectrum acquired through the latest auction will also help improve its coverage in villages by offering the superior experience to an additional 90 million customers in India.

The company added that despite the large amount of spectrum made available, the 700 MHz band bands did not get any bid from the operators as it made no economic case for them based on the high reserve prices.

Over 2,250 MHz of spectrum, that carry telecom signals, in seven bands worth nearly Rs 4 lakh crore at the reserve or start price, was offered for bidding in the auction that began on Monday.

- Advertisment -

Most Popular