Published on : Mar 05, 2015
The Indian government on Wednesday managed to mop up nearly INR 60,000 crore with the spectrum auctions off to a wonderful start. Top bidders included Idea Cellular, Bharti Airtel, and Vodafone India who fought tooth and nail to gain secure airwaves in those areas where their licenses were nearing expiration. Reliance Jio Infocomm made a strenuous attempt to acquire as many data airwaves as possible.
The department of telecommunications in India sent a press release on Wednesday which states that the spectrum bidding was done in all bands. The present value is an estimated INR 60,000 crore committed by bidders as against the reserve price value of approximately INR 49,000 crore of provisionally won spectrum. The department further stated that a total of six bidding rounds will be held. There is spectrum that is yet to be auctioned.
A senior official within the Indian government stated that the first auction was off to a crackling start. He added that the government of India was right on track in order to net the amount budgeted from airways this financial year.
The Central government of India has set aside INR 43,161.72 crore which has been earned from the one time spectrum levy, sale, and annual license fees combined during the financial year which ends in March. Approximately one third of the earnings from the spectrum auction will be received in this fiscal year till the end of March.
Eight mobile phone firms have been bidding for a gross 465 MHz of spectrum which stretches across four bands. These include companies that are led by India’s prime industrialists such as Sunil Mittal, Anila and Mukesh Ambani, the Tatas, and Kumar Mangalam Birla.