New Delhi: The central government has declared that it had initiated the auction of telecom spectrum valued at Rs 96,238.45 crore on Tuesday.
The Ministry of Communications announced that the amount of spectrum up for auction is 10,522.35 MHz spread across different bands, with a total value of Rs 96,238.45 crore at reserve prices.
The auction will include spectrum bands like 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300 MHz, and 26 GHz starting at 10 am. Three bidders, Bharti Airtel, Vodafone Idea, and Reliance Jio Infocomm, will take part in the auction.
The ministry announced that the government will conduct the spectrum auction on Tuesday to enhance current telecom services and ensure service continuity. The reserve price for the 1800 MHz spectrum band is Rs 21,752.4 crore, while the 800 MHz band is allocated at Rs 21,341.25 crore.
This aligns with the government's pledge to provide cost-effective, cutting-edge telecommunications services of top-notch quality to the entire population. The spectrum process was commenced by the Department of Telecommunications (DoT) on March 8. The allocation of Spectrum will last for 20 years.
The winning bidders can pay in 20 annual installments, spread over time, while maintaining the NPV at an 8.65% interest rate. The spectrum obtained from the auction can be returned after at least 10 years. The ministry stated that spectrum acquired in this auction will not be subject to Spectrum Usage Charges (SUC).
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