November 13, 2012 12:34 PM

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Govt receives over Rs 9200cr worth bids on first day of spectrum auction

In response to the online auction for 2G telecom spectrum,the government received bids worth about 9,280 crore rupees at the end of five rounds on Day 1 yesterday. Telecom Secretary R Chandrashekhar said that in 176 blocks of spectrum in 22 telecommunication zones in the country that were put on auction, bids were received only for 98. The Telecom Secretary said, the spectrum reserve price exceeded in UP (West) and UP (East) circles. Two key circles-Delhi and Mumbai-did not receive any bids on the first day. No player has applied for a pan-India licence. Telcos will get another chance to bid for circles that remain unsold after the initial rounds of bidding. Bidding will resume tomorrow.

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