Rs 77,146-cr bids for spectrum on Day 1

New Delhi, March 1

India’s first auction of spectrum in five years attracted Rs 77,146 crore of bids on the opening day on Monday with Jio, Airtel and Vodafone Idea putting in bids.

Over 2,250 MHz of spectrum in seven bands worth nearly Rs 4 lakh crore at reserve price was offered for bidding in the auction that began on Monday.

No takers in 700, 2,500 MHz bands

• Over 2,250 MHz of spectrum in seven bands worth nearly Rs4 lakh crore at reserve price was offered for bidding
• There were no takers for the airwaves in the premium 700 and 2,500 MHz bands
• Bids were received in 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz and 2,300 MHz bands

Telecom Minister Ravi Shankar Prasad said Rs 77,146 crore worth of spectrum was bid on the first day but there were no takers for the airwaves in the premium 700 and 2,500 MHz bands. The auction, he said, will continue on Tuesday.

About one-third of the spectrum being auctioned is in the 700 MHz band, which was completely unsold during the 2016 auctions.

This, analysts said, was mostly because operators are unlikely to diversify into a new spectrum band. — PTI