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Spectrum bids reach Rs 58,332 cr after 49 rounds of auction

New Delhi: Telecom companies have put in bids worth Rs 58,332 crore in spectrum auction at the end of 49 rounds on the 7th day of bidding today.The amount is about 86 per cent of

India TV News Desk [ Updated: February 10, 2014 22:05 IST ]
spectrum bids reach rs 58 332 cr after 49 rounds of auction
spectrum bids reach rs 58 332 cr after 49 rounds of auction

New Delhi: Telecom companies have put in bids worth Rs 58,332 crore in spectrum auction at the end of 49 rounds on the 7th day of bidding today.


The amount is about 86 per cent of what 3G radiowave auction fetched in 2010, although the current round has far more spectrum for two bands - 900 Mhz and 1800 Mhz - on the block.

“Total 49 rounds were over today. Total bids worth Rs 58,332.82 crore were received which is 21.7 per cent more than the total value of radiowaves put up for the auction, at the base or reserve price. Bidding will continue tomorrow,” Telecom Secretary MF Farooqui said.

He added that bids worth Rs 34,743.2 crore have been received for 1800 Mhz - about 98.8 per cent of the total value of radiowaves put up for sale, at the base price.

However, in case of 900 Mhz, which has received bids worth Rs 23,589.62 crore, the value has exceeded by 85 per cent at the base price.

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