Bharti Hexacom made an unexpected acquisition of spectrum valued at Rs 1,000 crore to enhance its data services. Jefferies has downgraded the stock to a hold rating with a target price of Rs 1,290.
Demand was concentrated on 900 MHz and 1,800 MHz spectrum bands, CNBC-TV18 reported
As per terms of the spectrum auction, the payments will have to be made over 20 equated annual installments, with interest computed at 7.2 percent per annum.
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Out of the 72,098 MHz of total spectrum on offer, 71 percent or 51,236 MHz has been sold in the auction held through 40 rounds of bidding over the past seven days.
The auction that stretched into seven days ended this afternoon.
The band went unsold in the previous two auctions, but this time, it saw a very, very different reception
Bids worth Rs 1,49,623 crore have been received at the end of the third day, he said. This is marginally higher than Rs 1,49,454 crore-worth bids received at the end of the ninth round on Wednesday, the second day of the auction.
India's biggest spectrum auction for fifth generation airwaves worth Rs 4.3 lakh crore has begun, and 4 huge players are in it to win it! Reliance Jio, Bharti Airtel, Vodafone Idea & Adani Data Networks are in the race, bidding for parts of the 72 Ghz of airwaves that the government has put up for grabs. But what exactly is 5G, why could it be a complete game-changer, when will it actually be rolled out in India & most importantly, how much will it cost? Find the answers to all your questions in this video!
Four bidders were in the fray — Reliance Jio, Bharti Airtel, Vodafone Idea and Adani Data on the day one. The expected revenue is around 1.5 times higher than government's pre-auction estimates of Rs 80,000 crore to Rs 1 lakh crore.
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The four companies that plan to bid for 5G spectrum together deposited Rs 21,800 crore as earnest money for the auction scheduled to start on July 26
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The conglomerate said its intention is not to be in the consumer mobility space but to build a private network to support all of its operations, including ports, logistics, power generation, transmission, distribution and various manufacturing operations
The pre-bid conference is the first major event in the detailed auction timetable that is mentioned in the bid document.
The Indian government is laying the groundwork for 5G spectrum auctions in the coming months. With this the 5G network will soon become a part of our lives.