Telecom operators secured over Rs 11,300 crore worth of radio waves in the latest spectrum auction, the Union government said on June 26.
Rs 11,340-crore revenue was received through auction of a total quantum of 141.4 MHz spectrum, said government in a press release.
"The Auction started on June 25, 2024 at 10 am and concluded on June 26, 2024 at 11:45 am after 7 rounds. As auction for 5G spectrum was held recently and 5G monetisation is still in progress, no bidding took place in 800 MHz, 2,300 MHz, 3,300 MHz and 26 GHz bands. A total quantum of 141.4 MHz (26.5%) was sold from the balance 533.6 MHz Spectrum. This is despite the fact that a very large amount of spectrum i.e., 51.2 Ghz of spectrum was sold in August 2022," said Ministry of Communications.
The unsold spectrum will again be put to auction next time.
Commenting on the development, Telecom Minister Jyotiraditya M. Scindia said: "Spectrum auction 2024 was part of a continuous allocation process that is transparent, robust and progressive. TSPs have taken spectrum not only for continuity of service but for expanding their services but the volume is limited because already a large part of the spectrum required was auctioned only last year. We will continue the process with the clear objective of ensuring reliability and growth of telecom services in India."
Bharti Airtel acquired spectrum worth Rs 6,857 crore while Reliance Jio and Vodafone Idea bought spectrum worth Rs 973.62 crore and Rs 3,510.4 crore, respectively.
Airtel acquired 97 MHz spectrum in 900 MHz, 1,800 MHz and 2,100 MHz
frequency bands through the auction for Rs 6,857 crore while Jio acquired 14.4 MHz spectrum in 1,800 MHz for Rs 973.62 crore. Vodafone Idea acquired 30 MHz spectrum in 900 MHz, 1,800 MHz and 2,500 MHz for Rs 3,510.1 crore.
"Bharti Airtel and Vodafone Idea have successfully renewed their expired spectrum in 900 MHz and 1,800 MHz bands and further an additional quantum of 87.2 MHz worth Rs 6,164.88 crore has been acquired by telecom service providers to augment their services. The unsold spectrum will again be put to auction next time," said government.
Disclosure: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
