As against its expectation of ₹45,000 crore, the central government received winning bids worth ₹77,146 crore as against its expectation of ₹45,000 crore, Union Communications Minister Ravi Shankar Prasad said.
“Total value of spectrum put to auction was ₹ 4 lakh crore approximately, so against close to ₹ 4 lakh crore, we have received bidding today, the amount of ₹ 77,146 crore,” he said.
Bharti Airtel Ltd, Vodafone Idea Ltd, and Reliance Jio Infocomm are the bidders at the auction.
Bidding has taken place for spectrum in 800 MHz, 900 MHz, 1800 MHz, 2100 MHz and 2300 MHz bands.
The participants did not bid in 700 MHz and 2500 MHz bands.
The bidders are required to pay 25 percent of the final bid amount as upfront payment in 700 MHz, 800 MHz, and 900 MHz bands.
In the rest of the bands, bidders are required to make payment of 50 percent of final bid amount upfront.
The balance amount will be payable in 16 equated annual instalments after a moratorium of two years.
Out of a total of 2308.80 MHz spectrum being put to auction, there have been bids for 849.20 MHz so far.
Excluding spectrum in 700 MHz and 2500 MHz bands, this is almost 60 percent of the spectrum put to auction.
In the 2016 spectrum auction, where there were seven bidders, the spectrum sold was 41 per cent by quantity and 12 per cent by value of the total spectrum put to auction.
The corresponding figures in the 2021 spectrum auction so far are 37 percent and 19 per cent respectively, with three participants.
Bidder-wise details of quantity won and amounts payable will be available only after conclusion of the auction.
Spectrum which will be assigned to the successful bidders is valid for 20 years.
The e-auction is based on Simultaneous Multiple Round Ascending Auction methodology.
Available spectrum in all bands is simultaneously put to auction in all the Licensed Service Areas.
Earlier, the auction began at 10 am. Four rounds of bidding took place till 6 pm.
The auction will resume tomorrow morning, and is expected to conclude tomorrow.
