The DoT received bids worth Rs 56,792 crore on the second day of spectrum auctions, which completed 12 rounds of auctions since the first day. Most demand was seen in the 1800 MHz band used for both 2G and 4G services, closely followed by the 2300 MHz band. The premium 700 MHz and 900 MHz saw no takers for a second day in a row.

Overall the demand was concentrated on the 1800 MHz and 2300 MHz bands, while rest of the bands received lukewarm response.  Note that the 1st day of the 2015 auctions received bids worth Rs 60,000 crore in just 4 bands. In spite of having five times more quantum of spectrum spread across  seven different bands for this year’s auctions, demand remained low on the second day.

The 1800 MHz, however, continues to see increasing bids in both the first and second day. Reserve prices saw an increment in 2 circles including Mumbai, and Uttar Pradesh (East) on the second day; both circles saw an excess demand on 1st day as well. Comparatively, during the 2014 2G auctions, prices in 10 circles were higher than the initial reserve price on the second day, while after 12 rounds of auction in 2016, reserve prices rose in just 3 circles.

800 MHz

The band which was made available in 19 circles saw minimal demand with bids seen in just two circles of Gujarat and Punjab.  The band however saw excess demand in Rajasthan circle on Day 1. Credit Suisse said in a statement yesterday that the 800 MHz is “likely seeing interest from Jio, RCOM and Tata.”

1800 MHz

Out the 21 circles, bids were received 17 circles with most number of bids placed in Assam circle followed by Jammu and Kashmir and West Bengal. The 1800 MHz band saw an excess demand in Mumbai circle after 12 rounds of bidding taking the final price to Rs 82.74 crore per block, which is a 21% increase from first day’s reserve prices.

Excess demand was also seen in Uttar Pradesh circle (East) as the final price after 12 rounds rose to Rs 23.92 crore. The band opened at reserve price of Rs 23 crore in in the same circle on 1st day.

2100 MHz

The band received bids in 9 circles out of the entire 22 circles that it is available in. Most bids were seen in 3 circles including Tamil Nadu, UP east and Bihar which received bids for just 2 blocks in each circle. Rest of the 6 circles received bids for just 1 block each.

2300 MHz

Out of the 16 circles, the band received bids in 5 circles namely Gujarat, Himachal Pradesh, Madhya Pradesh, Kerala, and Maharashtra. Gujarat received the most amount of bids in this band and its price after 12 rounds rose to Rs 574.12 crore due to excess demand, registering a 31% increase in reserve price since day 1.

Maharashtra circle received excess demand in the 2300 MHz band taking the reserve price after 12 rounds to Rs 624.36, which rose from Rs 618.17 croe on the 1st day.

2500 MHz

The band saw bids being placed in 9 circles out of the 22 circles that it was made available in. Most demand was seen in 5 circles including Delhi, Gujarat, Mumbai, Maharashtra, and Kolkata having received bids for 2 blocks in each circle. Rest of the 4 circles received bids for just 1 block in each.