Spectrum auction ends on Day 2 with total Rs 11,340 cr bids, officials say

The latest round of telecom spectrum auction, mainly to power 5G services, turned out to be among the shortest, ending on the second day of bidding. The government mopped up Rs 11,340.8 crore during the two-day auction that concluded on Wednesday, officials said.

The muted bidding for airwaves resulted in only 1.34 per cent of the spectrum put up for sale being bought. Of the 10,523 MHz of spectrum on offer at a reserve price of Rs 96,317.65 crore, telcos picked up only 141 MHz.