Informist, Tuesday, Jun 25, 2024

MUMBAI – Telecom operators showed interest in four spectrum bands -- 900 MHz, 1,800 MHz, 2,100 MHz, and 2,500 MHz -- on the first day of the 5G spectrum auction 2024, which saw five rounds of bidding, according to data from the department of telecommunications website.

Telecom operators placed bids for around 74.57 bln rupees worth of spectrum on the first day, as per Informist calculations. However, other media reports attributing to sources said private companies placed bids worth around 110 bln rupees.

The government has put 5G airwaves worth 962.38 bln rupees on the block. Reliance Jio, Bharti Airtel and Vodafone Idea are participating in the auction. Reliance Jio has deposited the highest earnest money of 30 bln rupees for the spectrum auction. Bharti Airtel has submitted an earnest money deposit of 10.50 bln rupees and Vodafone Idea of 3 bln rupees. Telecom companies can bid three to four times the amount based on their earnest money deposits.

Spectrum bought in this auction will be valid for 20 years. The telecom companies can either pay the full amount upfront or opt for installment payments. The interest rate for deferred payments in this auction is 8.65%, higher than the 7.2% in the 2022 auction. End

Reported by Darshan Nakhwa

Edited by Maheswaran Parameswaran

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