India’s spectrum auction ends early on day-2; fetches over Rs 11,300 crore

India’s spectrum auction concluded within a few hours of bidding on day-2, with telcos buying over Rs 11,300 crore worth of radio waves in all, which is just 12 per cent of the Rs 96,238 crore minimum value that government had estimated for the spectrum on offer.

The auction, where a total of 10 GHz of spectrum ranging between 800 MHz to 26 GHz was placed on the block, fetched total bids worth Rs 11,340 crore, sources with knowledge of the matter said. In all, only 140-150 MHz are estimated to have been sold in seven rounds.