October 2, 2016 8:38 AM

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Bids for over Rs. 53,000 crore received on day one of spectrum auction

India's largest-ever spectrum auction for the first day received bids worth 53,531 crore rupees across seven bands.The bands are 700, 800, 900, 1800, 2100, 2300 and 2500 MHz. As much as 2,354 megahertz of frequencies were put up for auction on Saturday. Telecom Ministry has said, the availability of such a large quantity of spectrum will give a fillip tor Digital India programme and will allow telecom operators to purchase spectrum at par with international holding values and end spectrum shortage.The spectrum auction, where seven telecom companies including Bharti Airtel, Vodafone, Idea Cellular and Reliance Jio are in fray, will resume on Monday. The other telecom players in the fray are Aircel, Reliance Communications and Tata Teleservices.Maximum action was seen in 1800 Mhz band – earlier known as 2G spectrum – with bidding in 19 of 22 telecom circles including Delhi, Mumbai, Kolkata, Gujarat and UP (East and West).However, no bidding was seen in the premium 700 Mhz band which is to be auctioned at a reserve or base price of Rs. 11,485 crore per Mhz.

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