India has reportedly raised more than Rs1.1trn (US$18bn) from its latest spectrum auction, which concluded today after 19 days of intense bidding.
Telecoms minister Ravi Shankar Prasad has confirmed the completion of the auction, which saw eight…
India has reportedly raised more than Rs1.1trn (US$18bn) from its latest spectrum auction, which concluded today after 19 days of intense bidding.
Telecoms minister Ravi Shankar Prasad has confirmed the completion of the auction, which saw eight operators vie for 20-year allocations in the 800 MHz, 900 MHz, 1,800 MHz and 2,100 MHz bands, local and international media reported.
The figure well surpasses the minimum Rs648.4bn the government had said it hope to raise before the auction got underway on 5 March as well as analyst expectations. It also also exceeds the Rs1.06 raised in the country’s 2010 auction.
The winning bidders and the amounts they agreed to pay have not been revealed, however Bharti Airtel, Vodafone India, Idea Cellular and Reliance Communications are expected to have taken a large portion.
India’s Supreme Court is considering cases against auction procedures and will rule on the final results. The next hearing is set to take place tomorrow (26 March).
