Spectrum Auction Day 1: Rs 11,000 cr Bids Placed
Jun 25, 2024 19:49
Telecom operators placed bids worth Rs 11,000 crore on the first day of the spectrum auction, with Reliance Jio, Bharti Airtel, and Vodafone Idea participating. The auction will resume on Wednesday.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Jun 25 (PTI) Telecom operators placed bids worth about Rs 11,000 crore on the first day of the spectrum auction that saw five rounds of bidding, according to sources.
The government has put over 10,500 Mhz spectrum valued at Rs 96,238 crore on the block.
Telecom operators have placed bids of around Rs 11,000 crore on Day 1. The auction will resume on Wednesday, a source aware of the development said.
According to the Day 1 spectrum auction report issued by the Department of Telecom, biddings took place mainly in the 900 and 1800 Mhz bands.
Reliance Jio, Bharti Airtel and Vodafone Idea are participating in the auction.
Reliance Jio has deposited the highest earnest money of Rs 3,000 crore for the spectrum auction, which provides the company with the firepower to bid for maximum radiowaves among the three telcos.
Bharti Airtel has submitted an EMD of Rs 1,050 crore and Vodafone Idea (VIL) of Rs 300 crore.
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