Spectrum auction bids top govt's target of Rs 1 lakh cr | business | Hindustan Times
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Spectrum auction bids top govt's target of Rs 1 lakh cr

business Updated: Mar 13, 2015 00:15 IST
HT Correspondent
HT Correspondent
Hindustan Times
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At the end of day eight of spectrum auction on Thursday, the government was assured of netting Rs 1,02,057 crore — crossing the communications ministry's target of Rs 1 lakh crore — from the sale of airwaves.

Bidding has been on for the 800, 900, 1,800 and 2,100 megahertz bandwidths, in the auctions that began on March 4. And the government was assured of the Rs 1.02 lakh crore commitment at the end of Thursday, when bidding took place for 18 circles.

"It is a great assurance for us that the bid amount today has crossed Rs 1 lakh crore-plus, closing at Rs 1,02,057 crore. I compliment all the telecom players who are participating in this auction," said communications minister Ravi Shankar Prasad. Officials in the ministry said the auction may go on for another few days.

Acquiring maximum spectrum — radio frequencies necessary for mobile devices to send and receive voice and data — is critical for operators to provide good connectivity, higher voice quality and data communication.

On Wednesday, when there were 43 rounds of bidding, the commitment figure had reached Rs 96,000 crore.

A total of 380.75 MHz of air waves are to be auctioned.

The government had set pan-India reserve price of

Rs 3,646 crore per MHz in the 800 MHz band, Rs 3,980 crore for 900 MHz band(excluding Delhi, Mumbai, Kolkata and J&K), Rs 2,191 crore in 1,800 MHz band (excluding Maharashtra and West Bengal).