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Government realises Rs 77,814 crore against Rs 4 lakh crore spectrum put for sale
As the Department of Telecommunications (DoT) completed the spectrum auction on Tuesday, government receives bids worth Rs 77,814 crore in total, with Reliance Jio being the largest bidder.
| 3 March 2021 5:23 AM GMT
NEW DELHI: As the Department of Telecommunications (DoT) completed the spectrum auction on Tuesday, government receives bids worth Rs 77,814 crore in total, with Reliance Jio being the largest bidder.
Addressing the media, Telcom Secretary Anshu Prakash said that the auction completed at 12.45 p.m. Bidding took place in all the offered bands apart from 700 MHz and 2,500 MHz.
Reliance Jio was the highest bidder with a bidding amount of Rs 57,122.65 crore, followed by Airtel which acquired 355.45 MHz spectrum across Sub GHz, mid band and 2,300 MHz bands for a total consideration of Rs 18,698.75 crore. Jio has acquired the rights to use 488.35 MHz.
Two telcos dominated with Reliance Jio spending most and Vodafone Idea the least
However, the government expressed itself pleased with the result
India’s spectrum auction finished yesterday after just two days of bidding and is reported to have benefited Indian government coffers with a handy US$10 billion (INR778 billion). However, the 700MHz band spectrum on offer for 5G went unsold. Observers said this was because the reserve price attached to that spectrum was too high.
The auction saw India’s telcos generally holding back to avoid overpaying, helped by the fact that the number of telco players and bidders has greatly reduced since last decade which had seen intensive competitive bidding, according to Bloomberg.
Read more about Spectrum auction: Telcos place bids worth Rs 77,815 cr; Jio biggest buyer on Business Standard. About one-third of the spectrum being auctioned is in the 700 MHz band, which was completely unsold during the 2016 auctions
As the Department of Telecommunications (DoT) completed the spectrum auction on Tuesday, government receives bids worth Rs 77,814 crore in total, with Reliance Jio being the largest bidder.Addressing the media, Telcom Secretary Anshu Prakash .