Airtel Buys 97 MHz Spectrum for Rs 6,857 Crore

New Delhi, Jun 26 (PTI) Bharti Airtel said it has bought 97 megahertz radio frequency, around 60 per cent of total airwaves sold, for Rs 6,857 crore in the fresh auction that concluded on Wednesday.

Additionally Bharti Hexacom, a subsidiary of the telecom firm, has acquired 15 MHz with an outlay of Rs 1,001 crore, Bharti Airtel said in a statement.

India's spectrum auction concluded within a few hours of bidding on Day 2, with telcos buying about Rs 11,340 crore worth of radio waves in all, which is just 12 per cent of the Rs 96,238 crore minimum value that government had estimated for the spectrum on offer.

"Airtel acquires 97 MHz spectrum in 900 MHz, 1,800 MHz and 2,100 MHz frequency bands through the auction for Rs 6,857 crore," the company said in a statement.

With this purchase, Bharti Airtel will continue to enjoy the largest mid-band spectrum pool in the country, the statement said.

"Airtel continues to judiciously acquire the right amount of spectrum to deliver the best possible experience to our customers. In this auction, we have bolstered our sub-giga hertz and mid-band holding, which will significantly improve our coverage especially indoor," Bharti Airtel managng director and CEO Gopal Vittal said.