Reliance Jio, Airtel, Vodafone, Idea Cellular submit applications to take part in mega spectrum auction

img

NEW DELHI: Reliance Jio, Airtel, Vodafone, Idea Cellular submit applications to take part in mega spectrum auction
Bharti Airtel, Vodafone, Reliance Jio, Idea Cellular, Reliance Communications, Aircel and Tata Teleservices have submitted applications for participating in the mega spectrum auction. The upcoming spectrum auctions will provide more radio waves to help improve telcos services in the country.

Bharti Airtel, Vodafone India, Reliance Jio and Idea Cellular, have submitted their applications to participate in India’s biggest-ever telecom spectrum auction. The mega spectrum auction is said to start from October 1. Apart from the above mentioned telcos, other players who have submitted their applications to take part in the upcoming auction are Reliance Communications, Aircel and Tata Teleservices. The total amount of spectrum that will be offered for sale is 2,354.55 MHz. Overall, based on the reserve price, the mop up is expected to be Rs 5.66 lakh crore.


The 2,300-plus MHz of airwaves on the block for telecom operators is in seven bands — 700 MHz, 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz and 2,500 MHz — as against 470.75 MHz in the previous round, which is set to fetch the exchequer $17 billion during its tenure. The timetable of the auction has put the mock auction dates on September 26 and 27 and the start of actual auction from October 1. mjunction services limited is advising the government on this auction. The government has decided to allot the right to the spectrum won through auction for 20 years.

The operators will have the choice of both upfront and installments payment options. The service providers who win airwaves below 1 GHz bandwidth will have to pay 25 percent upfront, and those winning above that the upfront payment will be 50 percent. One new bidding-friendly measure the government has adopted this year is that spectrum won will be assigned within 30 days from the date of upfront payment. Interest on deferred payment, linked to base rate, will be 9.3 percent this year against 10 per cent in 2015.

For the successful bidder, the lock-in period of equity in the company has been reduced to one year instead of earlier stipulation of minimum period of three years or completion of roll out obligation, whichever is later. In a meeting of the cabinet in June, chaired by Prime Minister Narendra Modi, an official nod was given for the reserve price and the auction norms.

Posted By: Digital Desk          Views: 922                  

Some More News

img

US successfully tests new nuclear gravity bomb

As the world's attention was on the first combat use of the conventional "Mother Of All Bombs," the

read more
img

US says nearly 800 ISIS members on ground when GBU-43/B dropped

The United States on Thursday dropped the most powerful non-nuclear bomb in its arsenal on an ISIS s

read more
img

In Abrupt Shift, Trump Warms to China and NATO, Sours on Russia

WASHINGTON (Reuters) - After less than three months in office, President Donald Trump has abruptly s

read more
img

Xiaomi Redmi 4A becomes the new budget king in India with 250k sold in four minutes

Could it replicate the immense success of the Redmi 3S line with which it has much in common? Xia

read more