India News | DoT Defers Spectrum Auction to June 25
Get latest articles and stories on India at LatestLY. The Department of Telecom (DoT) on Tuesday postponed the spectrum auction by 19 days to June 25, as per information available on its website.
New Delhi, Jun 4 (PTI) The Department of Telecom (DoT) on Tuesday postponed the spectrum auction by 19 days to June 25, as per information available on its website.
According to amendments made in the notice inviting applications for bids on Tuesday, the new date for "start of the live auction" has been changed to June 25 from June 6.
The government will auction eight spectrum bands for mobile phone services at a base price of about Rs 96,317 crore.
All the 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.
Reliance Jio has deposited the highest earnest money of Rs 3,000 crore for the spectrum auction, which gives the company the potential to bid for maximum radiowaves.
According to pre-qualified bidder details released by the DoT, Bharti Airtel has submitted the earnest money deposit (EMD) of Rs 1,050 crore and Vodafone Idea (VIL) of Rs 300 crore.
Companies get points based on the EMD amount they have deposited, which enables them to bid for the number of circles and quantity of spectrum they want. Higher points mean a higher capability to place bids.
The spectrum will be assigned for a period of 20 years and successful bidders will be allowed to make payments in 20 equal annual instalments.
The DoT has provided an option to surrender the spectrum acquired through the upcoming auction after a minimum period of 10 years.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)