Spectrum auction: Telecos buy bids worth Rs 77,815 crore; Jio top buyer with Rs 57,122 cr

New Delhi: India’s first auction of telecom spectrum in five years ended on Tuesday with Rs 77,814.80 crore of airwaves being bought, mostly by billionaire Mukesh Ambani’s Reliance Jio. Over 2,250 MHz of spectrum, that carry telecom signals, in seven bands worth nearly Rs 4 lakh crore at the reserve or start price, was offered for bidding in the auction that began on Monday. Telecom Secretary Anshu Prakash said 855.60 MHz of spectrum was bought for Rs 77,814.80 crore in the two-day auction. Reliance Jio bought Rs 57,122.65 crore worth of spectrum while Vodafone Idea Ltd picked Rs 1,993.40 crore worth of airwaves. Bids were received in the 800 MHz, 900 MHz, 1800 MHz, 2100 MHz and 2300 MHz bands but there were no takers for the airwaves in the premium 700 and 2500 MHz bands. About one-third of the spectrum being auctioned is in the 700 MHz band, which was completely unsold during the 2016 auctions. This, analysts said, was mostly because operators are unlikely to diversify into a new spectrum band that would require incremental investment in equipment, when other sub-GHz bands are available at lower prices. Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpost.