The latest round of telecom spectrum auction, mainly to power 5G services, turned out to be among the shortest, ending on the second day of bidding. The government mopped up 11,340.8 crore during the two-day auction that concluded on Wednesday, officials said.
The muted bidding for airwaves resulted in only 1.34 per cent of the spectrum put up for sale being bought. Of the 10,523 MHz of spectrum on offer at a reserve price of ₹96,317.65 crore, telcos picked up only 141 MHz.
In the 2024 Interim Budget, the government had given a ₹1.2 trillion non-tax revenue collection estimate from the telecom sector for FY25. This was 28.5 per cent higher than the 93,540 crore FY24 revised estimate. Considering that telcos will make the payment for the purchased spectrum over the next 20 years, it's not immediately clear whether the gamut of proceeds from the latest sale will affect the target, according to an official.
Bharti Airtel topped the buyers' list, with bids worth ₹6,856 crore. The Sunil Mittalled telco purchased 97 MHz of spectrum.
Telecom market leader Reliance Jio bought the lowest amount of spectrum (14.4 MHz) at 973 crore. Vodafone Idea (Vi) picked up the second-largest amount of spectrum (30 MHz) at ₹3,510.4 crore. A large chunk of the purchases by both Bharti Airtel and Vodafone Idea was towards renewal of spectrum in certain bands.
Bu hikaye Business Standard dergisinin June 27, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Standard dergisinin June 27, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Air India cancels US flight to ferry T20 world champions
DGCA asks for 'factual report' from the airline
It's showtime for live entertainment
A heady cocktail of social media and youth craving for experiences has triggered a boom in live events. Can it last?
The fate of the compensation cess
In our piece yesterday, we reviewed the performance of the Goods and Services Tax (GST) over the past seven years, emphasising that the states did well but at the cost of a revenue sacrifice by the Centre.
Near-term headwinds seen for realty stocks
Analysts suggest cautious approach, advise against exiting completely
Strong outlook for AMCs but high valuations pose risk
Given gains in equity prices, it is not surprising that the earnings of asset management companies (AMCs) are growing quicker.
Sebi has strong case against Hindenburg, say lawyers
The Indian market regulator, the Securities and Exchange Board of India (Sebi), has a strong case against US-based short-seller Hindenburg Research, who the former has alleged to have traded based on unpublished price-sensitive information.
Sensex may hit 87K by year-end
Analysts advise investors to stay with largecaps
FMCG sector weight in Nifty 50 falls to lowest level since 2010
Weak financial results reason for waning investor interest: Analysts
Yin, yang and assumptions
India and China are two of the world's largest civilisations, countries and Leconomies.
Lagging indicator
Gender diversity in India Inc still sub-optimal
