Spectrum Auction: The final list of bidders participating in the spectrum auction will be announced on May 20.
New Delhi:
Telecom companies like Reliance Jio, Bharti Airtel and Vodafone Idea, starting from June 6, will offer Rs. 96,317 crore submitted applications to bid in the spectrum auction. An official source gave this information on Monday.
“Reliance Jio, Bharti Airtel and Vodafone Idea have submitted applications for the spectrum auction,” the source said.
The government will auction eight spectrum bands
According to the information, the government will spend approximately Rs. 96,317 crore will auction eight spectrum bands for mobile phone services. All available spectrum in the 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz bands are part of the auction.
Payment is allowed in 20 equal annual installments
Let us tell you that the total spectrum value at base price is Rs 96,317 crore. The spectrum will be allotted for 20 years and the successful bidders will be allowed to pay in 20 equal annual installments.
The final list of bidders will be announced on May 20
The Department of Telecom has provided an option to ‘surrender’ the acquired spectrum through the next auction after a minimum period of 10 years. The department will release the ownership details of the applicants on May 10. Under this, the last date for withdrawal of applications is May 17 and the final list of bidders will be announced on May 20.