India announces 7 bidders names; receives Rs. 15,000 crore in coming mega spectrum auction

NEW DELHI: India’s Department of Telecom (DoT) has said that the seven telecom service providers have applied to bid in its upcoming mega spectrum auction, starting 1 October to allot the right to use certain spectrum for 20 years.

'Bharti Airtell, Vodafone India, Reliance Jio, Reliance Communication (RCom), Idea Cellular, Aircel and Tata Teleservices are participating in upcoming mega spectrum auction, according to DoT.

These mobile operators are said to have deposited about Rs. 15,000 crore as earnest money,

According to NDTV report, Reliance Jio has deposited the highest guarantee of nearly Rs. 6,500 crore while Vodafone has submitted about Rs. 2,800 crore.

Similarly, Idea Cellular and Bharti Airtel are understood to have submitted about Rs. 2,000 crore and 1,900 crore, respectively. The balance has been submitted by Tata Teleservices, RCom and Aircel.

Norway-based Telenor Group’s Indian telecom arm Telenor India had decided not to participate in upcoming spectrum auction in India as the reserve prices are too high compared to the possible return on investment.

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Three months ago, the Prime Minister Narendra Modi-led Cabinet has cleared the way for mega auction of spectrum in which airwaves worth Rs 5.66 lakh crore will be put for sale in country.

More than 2300 MHz spectrum is available for auction across 7 bands and the 7 bands are : 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz and 2500 MHz bands.