Telecom operators have placed bids worth ₹11,000 crore on the first day of the spectrum auctions that saw five rounds of bidding, reported PTI quoting anonymous sources.
The Ministry of Communications has put over 10,500 Mhz spectrums worth ₹96,238 crore for auction, said the ministry in a press release.
“Telecom operators have placed bids of around ₹11,000 crore on Day 1.
Bharti Airtel has deposited an EMD of ₹1,050 crore and Vodafone Idea of ₹300 crore for the same.
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Telecom operators have placed bids worth ₹11,000 crore on the first day of the spectrum auctions that saw five rounds of bidding, reported PTI quoting anonymous sources.
The Ministry of Communications has put over 10,500 Mhz spectrums worth ₹96,238 crore for auction, said the ministry in a press release.
“Telecom operators have placed bids of around ₹11,000 crore on Day 1. The auction will resume on Wednesday,” said a source familiar with the development to PTI.
As per the data released by the Telecom department, spectrum bands of 900 Mhz and 1800 Mhz received the majority of bids from the companies.
Telecom companies like Bharti Airtel Limited, Vodafone Idea Ltd, and Reliance Jio Infocomm Ltd, were the three to take part in the Day 1 of spectrum auctions, according to the release.
Reliance Jio has deposited ₹3,000 crore, the highest amongst all three bidders as an earnest money deposit (EMD), which provides the strength to bid for maximum radiowaves amongst the three competitors. Bharti Airtel has deposited an EMD of ₹1,050 crore and Vodafone Idea of ₹300 crore for the same.
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