Economy: Spectrum auction ended on the second day, very few bids were received and Sensex closed above 78,500 for the first time
Spectrum public sale ended on the second day, bids had been obtained a lot decrease than anticipated
India’s spectrum public sale ended inside hours of bidding beginning on the second day. Telecom firms collectively purchased spectrum price over Rs 11,300 crore, which is lower than 12 per cent of the estimated worth of Rs 96,238 crore of radio waves put up on the market by the federal government. A complete of 10 GHz of spectrum within the band between 800 MHz and 26 GHz was supplied within the public sale. Bids price a complete of Rs 11,340 crore had been obtained, sources acquainted with the matter mentioned. It’s estimated that solely 140–150 MHz have been bought within the seven rounds of bidding.
5 rounds of bidding had been finished on the primary day of the public sale on June 25. Resulting from not many bids being obtained on Wednesday, officers introduced the top of the public sale at round 11:30 am. This 2024 public sale supplied 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz spectrum bands. This time the bids for spectrum had been a lot decrease than anticipated. Market observers had anticipated restricted bidding as telecom firms are primarily specializing in spectrum renewal and selectively on radio waves to extend their attain.
On this public sale, Reliance Jio, Bharti Airtel and Vodafone-Concept (VIL) had been competing for radio waves supporting high-speed cellular service. In accordance with the report launched by the Division of Telecommunications in regards to the first day’s public sale, bids had been primarily positioned within the bands of 900 and 1,800 MHz spectrum. Other than this, bids had been additionally positioned for the two,100 MHz band in three circles.
Click Here To Join Our Telegram Channel
You probably have any considerations or complaints relating to this text, please tell us and the article will likely be eliminated quickly.
