On Day 1, Telcos bid for spectrum worth ₹11,301 crore

The Centre has sold spectrum worth ₹11,301 crore on the first day of auction with mobile operators limiting most of their bids at reserve price.

Five rounds of bidding were concluded, with most of the demand for two specific spectrum bands 900MHz and 1800MHz. Demand for spectrum is highest in Bihar and West Bengal.

Airwaves worth ₹96,000 crore were put on auction on Tuesday. This means that telcos have only placed bids on only 11.7 per cent of the spectrum on offer (by value). The price of the spectrum even after five rounds of bidding is at the reserved price. However, for circles, Bihar and West Bengal prices exceeded the reserve price by a small margin.