The government has already generated Rs77,146 crore against the Rs45,000 crore it had expected from the spectrum auction which started earlier in the day and saw bids by market leader Reliance Jio, besides and Vodafone Idea, telecom minister Ravi Shankar Prasad said Monday.
“700 MHz and 2500 Mhz saw no bids today. The auction will resume tomorrow morning at 10 AM,” Prasad told reporters.
Leaving aside the 700 MHZ and 2500 MHz bands, 60% of the spectrum in the other five bands put on sale was sold, said Prasad, adding that the 2300 MHz band saw the most action.
India is auctioning 2,251.25 megahertz (MHz) of 4G airwaves valued at Rs 3.92 lakh crore up at base price. On sale are seven bands - 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz bands – with experts predicting that the government would net a maximum upto Rs50,000 crore, with Jio expected to be the most aggressive of the three and Vodafone Idea the least.
The current auction does not include frequencies in 3,300-3,600 Mhz bands that were identified for 5G services, which will happen later.
Jio, Airtel and Vodafone Idea had submitted a total earnest money deposit (EMD) of Rs 13,475 crore for the spectrum auctions. Reliance Jio, a networth of Rs 1.79 lakh crore, had submitted EMD of Rs 10,000 crore for the auctions, the highest among the three private telcos. Bharti Airtel with a networth of Rs 71,303 crore has submitted EMD of Rs 3,000 crore and Vodafone Idea with a negative networth of Rs 43,474 crore has submitted EMD of Rs 475 crore.
“700 MHz and 2500 Mhz saw no bids today. The auction will resume tomorrow morning at 10 AM,” Prasad told reporters.
Leaving aside the 700 MHZ and 2500 MHz bands, 60% of the spectrum in the other five bands put on sale was sold, said Prasad, adding that the 2300 MHz band saw the most action.
India is auctioning 2,251.25 megahertz (MHz) of 4G airwaves valued at Rs 3.92 lakh crore up at base price. On sale are seven bands - 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz bands – with experts predicting that the government would net a maximum upto Rs50,000 crore, with Jio expected to be the most aggressive of the three and Vodafone Idea the least.
The current auction does not include frequencies in 3,300-3,600 Mhz bands that were identified for 5G services, which will happen later.
Jio, Airtel and Vodafone Idea had submitted a total earnest money deposit (EMD) of Rs 13,475 crore for the spectrum auctions. Reliance Jio, a networth of Rs 1.79 lakh crore, had submitted EMD of Rs 10,000 crore for the auctions, the highest among the three private telcos. Bharti Airtel with a networth of Rs 71,303 crore has submitted EMD of Rs 3,000 crore and Vodafone Idea with a negative networth of Rs 43,474 crore has submitted EMD of Rs 475 crore.
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11 Comments on this Story
 | Rajeev Kaushik29 minutes ago To renew of expiring spectrum is the need of telecom companies. Secondly re organise the 2g , 3g & 4g in the process of augmenting new spectrum bands. Third reason is to optimise 4G High end customers and offer 2g customers to lure High usage 4G service. The spectrum purchase will definitely add cost to companies balance sheet which may result in hike in service cost to customers with a mix containing more of 4G n less 2g ( The low end customer). The customer who have enjoyed past low tariff regiment may end UP paying more. The customer churn and stress on customer addition is not in favour of revenue increase and customer service betterment in a res trained Network possibility. |
| Ravindran Pranatharthy46 minutes ago How much bidding money was remitted by the successful allottees from their own networth funds rather than by arranging bank loans which will going by past record be in default very soon as NPA? If all that the Govt says it got as dprctrum money is lent by PSBs, it means govt money going from govt Banks to Govt Telecom dept. All the money stays within the Govt effectively. Will there be an auurance of non govt money coming to the Govt in this spectrum show? Hope the auction does not turn out to be a financial give away willy nilly. |
| Narayana Gowda47 minutes ago govt.may get some money in advance,but ultimately the end user subscriber will have pay through thier nose for using the telecom n broadband services.The telecom companies will earn 10 times the Broadband n which they keep it for them selves. |