Business

Spectrum auction: Government receives bids amounting to ₹77,000 crore on day 1


Bids were received in 800 MHz, 900 MHz, 1800 MHz, 2100 MHz and 2300 MHz bands.

India’s first auction of spectrum in five years attracted ₹77,146 crore of bids on the opening day on Monday with Reliance Jio, Bharti Airtel and Vodafone Idea putting in bids.

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

Telecom Minister Ravi Shankar Prasad said ₹77,146 crore worth of spectrum was bid on the first day but there were no takers for the airwaves in the premium 700 and 2500 MHz bands.

The auction, he said, will continue on Tuesday.

Bids were received in 800 MHz, 900 MHz, 1800 MHz, 2100 MHz and 2300 MHz bands.

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

This, analysts said, was mostly because operators are unlikely to diversify into a new spectrum band that would require incremental investment in equipment, when other sub-GHz bands are available at lower prices.

You have reached your limit for free articles this month.

Subscription Benefits Include

Today’s Paper

Find mobile-friendly version of articles from the day’s newspaper in one easy-to-read list.

Unlimited Access

Enjoy reading as many articles as you wish without any limitations.

Personalised recommendations

A select list of articles that match your interests and tastes.

Faster pages

Move smoothly between articles as our pages load instantly.

Dashboard

A one-stop-shop for seeing the latest updates, and managing your preferences.

Briefing

We brief you on the latest and most important developments, three times a day.

Support Quality Journalism.

*Our Digital Subscription plans do not currently include the e-paper, crossword and print.



Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button