5G spectrum auction fetches just 12% of targeted revenue
The New Indian Express|June 27, 2024
THE Central government's second 5G spectrum action on Wednesday saw subdued bidding by telecom companies, which collectively bid ₹11,340 crore for a total 141.4 MHz of airwaves.
RAKESH KUMAR

The bid value amounts to just 12% of the reserve price of ₹96,238 crore. The auction concluded in two days with seven rounds of bidding.

Tul Bharti Airtel emerged the top bidder by acquiring airwaves worth 6,856.76 crore, followed by Vodafone Idea at ₹3,510 crore. India's largest telecom operator Reliance Jio had deposited the highest earnest money of ₹3,000 crore but it bid only ₹973.62 crore to pick up additional spectrum.

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