The government has received bids worth over Rs 60,000 crore from the telecom spectrum auction which ended on day 10 today. Also Read - Beware of Joker Malware infected Android Apps: Here's how it affects your private data
The auction for 900MHz and 1,800MHz bands saw strong contest for the radiowaves among eight telecom companies, with the bidding stretching to 68 rounds.
“Spectrum auction has ended after 68 rounds,” said an official source.
The bid value of the spectrum in the two bands, used for offering 2G services, has reached around 90 percent of the money that the government had received in the 3G spectrum auction in 2010, which fetched Rs 67,718.95 crore.
The government will now get at least Rs 18,273 crore in the current fiscal ending on March 31 in case companies opt for installment mode.
The government received bids for around 78 per cent of blocks in 1,800MHz band, and 100 percent in 900MHz band.
The bidding amount for 1,800MHz has crossed its value of the reserve price, while for 900MHz the price rose by over 85 per cent.
The government had put on the block about 385Mhz of spectrum in the 1,800MHz band, and 46MHz in 900MHz band.
Eight companies participated in the auction, which include – Bharti Airtel, Vodafone, Idea Cellular, Reliance Jio Infocomm, Aircel, Tata Teleservices, Telewings (Uninor) and Reliance Communications.
Out of the five online spectrum auctions, the just-ended round was the largest in terms of radiowaves on sale, and third longest till date in terms of duration.
3G auction in 2010 lasted for 34 days, broadband wireless access (BWA) ended in 16 days. 2G auction in November 2012, on the other hand, ended in just two days, while the CDMA auction in March last year had concluded the same day.