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Bids worth Rs 77,146 crore received on first day – News India Live, India news, News India, Live news, Live India

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Bids worth Rs 77,146 crore received on first day - News India Live, India news, News India, Live news, Live India Funny Jokes

Bids worth Rs 77,146 crore received on first day - News India Live, India news, News India, Live news, Live India Funny Jokes

New Delhi : On the first day of the first auction of spectrum in five years in the country, bids worth Rs 77,146 crore were received on Monday. Reliance Jio, Bharti Airtel and Vodafone Idea participated in the bidding process. Encouraged by the good response to the auction, the government said it was better than expected. However, on the first day no bidders came in for radio waves in the 700 and 2500 MHz bands. Around 2,308.80 MHz spectrum has been offered in the seven bands valued at about Rs 4 lakh crore at the reserve or starting price in the auction started on Monday.

Telecom Minister Ravi Shankar Prasad said that bids were received for spectrum worth Rs 77,146 crore on the first day of the auction but no bidder came for radio waves in the premium 700 and 2500 MHz bands. Bids from companies have exceeded the government’s internal estimate. Internal estimates had bids worth Rs 45,000 crore. Ravi Shankar Prasad said, “By 6 pm on Monday evening, winning bids worth Rs 77,146 crore came. Since there are only three companies, the spectrum is interchangeable. We had estimated that bids of about Rs 45,000 crore would come, but it was far above Rs 77,146 crore. ”

According to the official release, the details according to the bidder are not available at the moment. A total of 2,308.80 MHz spectrum has been put up for auction. Out of this, bids for 849.20 MHz have been received so far. The bids came in 800 MHz, 900 MHz, 1800 MHz, 2100 MHz and 2300 MHz bands. Bidders did not make any bids in the expensive 700 MHz on the first day. Ravi Shankar further said, “A total of Rs 4 lakh crore worth of spectrum has been put up for auction. It has 700 MHz, the band is expensive and it costs Rs 1.97 lakh crore. ”He said that if bids do not come in 700 MHz in the present auction, the government will decide about this MHz, which is useful in 5G.

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