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Spectrum auctions day 1: bids worth Rs 60,000 cr made in all four bands

The department of telecommunications began its biggest auction of 2G and 3G waves in the 2100 Mhz, 1,800 MHz, 900 MHz and 800 MHz spectrum. The DoT which conducted six rounds of bids expects to add Rs 82,000 crore to the national exchequer through the auction of waves, and so far on day one it has bids worth about Rs 60,000 crore as indicated by a report by the Press Trust of India. The report added that the reserve price of the spectrum which is under action is Rs 49,000 crore. It's worth noting that government had raked in Rs 62,162 crore from the last spectrum auction held in February 2014. The auctions saw brisk bidding for the 900 Mhz and 2100 Mhz band. However, there was a lot of surprise interest in the 800 MHz band while the 1800 Mhz band did not see too much of demand, the report added. The Financial Express added that the there was not much interest in the 2100 MHz band in the Mumbai, Delhi and Karnataka circles. The total spectrum put to auction is 103.75 MHz in 800 MHz band, 177.8 MHz in 900 MHz band and 99.2 MHz in 1,800 MHz band for second generation (2G) telephony. The government has also put up 5 MHz in the 2,100 MHz band third generation (3G) telephony. The DoT  has selected Kolkata-based mjunction Services Limited as the agency to conduct auction of spectrum in various bands. The results of day one can be found here (pdf). Supreme Court ruling…

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