Spectrum Auction: Bid value surpasses Rs 1 lakh cr-mark on Day 8

NEW DELHI: The government raised Rs 1 lakh crore on the eighth day of spectrum auction as aggressive bidding continued across all the bands.

At the end of 49 rounds, bids grew to over Rs 1 lakh crore, an official statement said.

"There is aggressive bidding going on in all bands i.e. 2100 MHz, 1800 MHz, 900 MHz and 800 MHz bands. At the end of 49th round, over 86 per cent of the spectrum has been provisionally allocated to bidders at a value of approximately Rs 1,02,000 crore," it added.

A majority of service areas are going at a premium over reserve price and the competitive bidding is expected to continue. So far, over 86 per cent of the spectrum has been provisionally allocated to bidders.

Media reports quoting Telecom Minister Ravi Shankar Prasad said: "It is a matter of great assurance for us to know that the bid amount today crossed 1 lakh crore plus closing at Rs 1,02,000 crore."

The bid amount crossing Rs 1 lakh crore shows the trust and optimism in the new government's ability and potential to take fair decision and the inherent potential which the telecom segment holds out for future growth, he added.