Spectrum auction: Bids remain above Rs 1 lakh crore | business | Hindustan Times
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Spectrum auction: Bids remain above Rs 1 lakh crore

business Updated: Mar 13, 2015 23:53 IST
HT Correspondent
HT Correspondent
Hindustan Times
spectrum auction

The ninth day of spectrum auction witnessed brisk but cautious bidding across bandwidths with the amount committed by bidders remaining over Rs 1 lakh crore, but lower than Thursday’s Rs 1,02,057 crore.

On Friday, over 87% of the spectrum had been provisionally allocated to bidders, and the amount committed by them stood at Rs 1,01,423 crore.

“The provisional amount committed by bidders at the end of 55th round continues to be over Rs 1 lakh crore. Majority of service areas are going at a premium over reserve price,” according to an official statement.

The auction witnessed six rounds of bidding on Friday with activity requirement set at 100%. There is robust bidding going on in 2,100 MHz, 1,800 MHz, 900 MHz and 800 MHz bandwidths.

The competitive bidding is expected to continue for next few days. There is still spectrum, which is yet to be sold. Bidding would recommence on Saturday.

Meanwhile, union coal minister Piyush Goyal, in a written reply to a question in the Lok Sabha, said the total estimated amount of revenue likely to be generated from the 33 coal mines already auctioned was Rs 2.1 trillion.