New Delhi: The spectrum auction has received bids of Rs 60,969 crore at the end of third day of bidding. Analysts are expecting it to end in 2-4 days due to slow demand from operators.
On Tuesday, six rounds of bidding were held. Since Saturday when auctions started, 17 rounds of auctions have been completed. However, even after three days of auction, no bid was made for the most costlier spectrum band 700mhz.
The premium 700 MHz band is being auctioned at a reserve price of Rs 11,485 crore per Mhz. It seems that operators have decided to stay away from this band. If no bids came for the 700 Mhz band then government may fail to achieve the target to Rs 5.63 lakh crore from the current spectrum auction.
The 900 MHz spectrum also didn’t receive any bid till now. “The spectrum auction is already tapering with additional bids worth Rs 31 billion received on day three. Bid worth Rs 600 billion have come in thus far and over thirds of the spectrum remaining unsold. This clearly underscores operators’ reluctance to trade on exorbitant reserve prices.
