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2016 Spectrum Auction ends: Rs 65,789 Cr in bids, only 40% of spectrum sold

The 2016 spectrum auctions concluded today after 31 rounds of bidding. Total value of bids at end of Day 5 stood at Rs 65,789 crore, which had 8 new rounds of bidding. The government was initially targeting Rs 56,00,000 crore based on the reserve prices set by the TRAI in late January. More than 965 MHz of spectrum was allocated provisionally after 31 rounds of bidding that ended today. This means only 40% of the spectrum put up for auctions have been sold after 5 days of auctions. A total of 2,354.55 megahertz of spectrum across 7 different bands were put up for auctions this year. The premium 700 MHz and 900 MHz spectrum saw no takers for a 5th day in a row, and most bids were placed in the 1800 MHz band followed by the 2300 MHz spectrum.…

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