India spectrum auction received bids worth Rs 77,146 crore on day 1

India’s spectrum auction received bids worth Rs 77,146 crore on the first day of the auctions, said Telecom Minister Ravi Shankar Prasad.
Airtel, Jio, Vi mobile networkBidding took place for spectrum in the 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz and 2,300 MHz bands. However, the participants did not bid for 700 MHz and 2,500 MHz bands.

Reliance Jio, Bharti Airtel and Vodafone Idea (Vi) were the bidders in the latest spectrum auction against seven bidders in the previous auctions in 2016.

Reliance Jio, a telecom operator promoted by Mukesh Ambani, had submitted an earnest money deposit (EMD) of Rs 10,000 crore for the auctions, the highest among the three private telecom operators. Bharti Airtel, promoted by Sunil Mittal, submitted an EMD of Rs 3,000 crore for participating during the spectrum auction.

Vodafone Idea, the third largest mobile service provider, submitted EMD of Rs 475 crore.

A statement said that bidder-wise details of quantity won and amount payable will be available only after conclusion of the auction.

A total of 2,308.80 MHz spectrum is being put to auction, out of which there have been bids for 849.20 MHz so far. According to the government, excluding spectrum in 700 MHz and 2,500 MHz bands, bids have been received for almost 60 percent of the spectrum.

The auction is likely to conclude on Tuesday.

Four rounds of bidding took place till 6 p.m. on Monday, another two rounds are expected on Tuesday.

The ongoing auction does not include frequencies in 3,300-3,600 MHz bands that were identified for 5G services.

Spectrum which will be assigned to the successful bidders is valid for 20 years.