Rs 11,340 crore worth of bids received; spectrum auction ends in just two days
Spectrum auction: A total of 10 GHz of spectrum ranging between 800 MHz to 26 GHz was offered that fetched total bids of Rs 11,340 crore.
- Jun 26, 2024,
- Updated Jun 26, 2024 2:43 PM IST
The spectrum auctions ended within two days on Wednesday, garnering less than 12 per cent of the Rs 96,238 crore minimum value that the government had estimated. The auction reportedly got bids worth Rs 11,340 crore.
A total of 10 GHz of spectrum ranging between 800 MHz to 26 GHz was offered that fetched total bids of Rs 11,340 crore, said sources to news agency PTI. The radiowaves on offer carry voice and data signals for mobile phones.
800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz of radiowaves were on offer.
Five rounds of bidding happened on June 25, which was the opening day. However, Wednesday did not see much action, leading the officials to declare the end of the auction at around 11:30 am.
The total bids were, hence, more or less of what had come in on Tuesday, with only 140-150 MHz more estimated to have been sold.
The last auction in 2022 was a seven-day affair with a record of over Rs 1.5 lakh crore worth of 5G telecom spectrum sold. Billionaire Mukesh Ambani's Jio emerged as the top bidder, cornering nearly half of all the airwaves, worth Rs 88,078 crore, while Sunil Mittal's Bharti Airtel made a successful bid of Rs 43,084 crore, and Vodafone Idea bought spectrum for Rs 18,799 crore.
The spectrum auctions ended within two days on Wednesday, garnering less than 12 per cent of the Rs 96,238 crore minimum value that the government had estimated. The auction reportedly got bids worth Rs 11,340 crore.
A total of 10 GHz of spectrum ranging between 800 MHz to 26 GHz was offered that fetched total bids of Rs 11,340 crore, said sources to news agency PTI. The radiowaves on offer carry voice and data signals for mobile phones.
800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz of radiowaves were on offer.
Five rounds of bidding happened on June 25, which was the opening day. However, Wednesday did not see much action, leading the officials to declare the end of the auction at around 11:30 am.
The total bids were, hence, more or less of what had come in on Tuesday, with only 140-150 MHz more estimated to have been sold.
The last auction in 2022 was a seven-day affair with a record of over Rs 1.5 lakh crore worth of 5G telecom spectrum sold. Billionaire Mukesh Ambani's Jio emerged as the top bidder, cornering nearly half of all the airwaves, worth Rs 88,078 crore, while Sunil Mittal's Bharti Airtel made a successful bid of Rs 43,084 crore, and Vodafone Idea bought spectrum for Rs 18,799 crore.