Spectrum auction: Govt receives bids worth Rs 55,000 crore on day 1

As day one of the spectrum auction comes to an end the areas such as UP (West) and Haryana had seen a high demand of bidding, reported Aseem Manchanda. In fact most of the spectrum in these areas was reported to be sold out.

The government has received bids worth Rs 55,000 crore on day one of the spectrum auction.

While the 2300 MHz spectrum has been sold out in all circles, there were no bids for the 700 MHz and 900MHz spectrums.

Day 1 of spectrum auction concludes.UP West and Haryana seeing high demand for spectrum @ZeeBusiness

— aseem manchanda (@aseemmanchanda) October 1, 2016

Government has received bids worth 55,000 crs on day 1 of spectrum auction @ZeeBusiness

— aseem manchanda (@aseemmanchanda) October 1, 2016

Government received No bids for 700 Mhz and 900 MHz spectrum bands, 2300 MHz spectrum sold out in all circles @ZeeBusiness

— aseem manchanda (@aseemmanchanda) October 1, 2016

In the third round of the spectrum auction, the was a lot of activity was seen in 2100 MHz, 2300Mhz and 2500 Mhz bands and most of the action is seen in 1800 Mhz band.

As expected the 700 MHz spectrum so no activity yet due to the premium price.

Maximum activity is taking place in 1800 MHz band, especially for the Mumbai circle, they said, adding that 10 bids have been received in the 2100 MHz band for all the 10 slots on the offer, said a PTI report.

As much as 2,354.55 Mhz of frequencies are being put up for auction in seven bands - 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz. The radiowaves can be used for 2G, 3G and high-speed 4G mobile services.

Reliance Jio, Vodafone, Bharti Airtel, Idea Cellular, Tata Teleservices, Reliance Communications and Aircel are in the fray for the spectrum auction, which started earlier today.

There is no end limit set by the government for the auction, but the bidding will be between 9 am to 7 pm every day.

(With inputs from PTI)