Spectrum auction: Bids touch Rs 61k crore on day 9

Written by fe Bureau | New Delhi | Updated: Feb 13 2014, 14:28pm hrs
Aggressive bidding was seen on the ninth day of telecom spectrum auction for 1800 Mhz band, taking the total value of radiowaves to Rs 61,093.83 crore.

Total bids worth Rs 61,091.83 crore, which is about 27% more than the spectrum value at the base price, were received at the end of 63 rounds on the ninth day, telecom secretary MF Farooqui said after the close of the day.

The bid value for spectrum 900 Mhz and 1800 Mhz bands has now reached over 90% of the money that government received in the 3G spectrum auction in 2010, although a larger quantum of radiowaves has been put on the block in the current round.

Bids worth Rs 37,502.21 crore, amounting to 106.6% of radiowaves for spectrum in 1800 Mhz band were received. However, there was no change in the price of the premium 900 Mhz band at Rs 23,589.62 crore compared to the previous day.

The price of radiowaves in the 900 Mhz band is now 85% more than the base price.