The Department of Telecom (DoT) has postponed the spectrum auction to June 25, as per the information available on its website. According to amendments made in the Notice Inviting Applications (NIA) for bids on Tuesday, the new date for "start of the live auction" has been changed to June 25 and the new date for publishing the Auction Catalogue for Live Auction is now June 24.
Also Read: DoT Releases New Application Schedule for Spectrum Auction 2024
Spectrum Up for Grabs
The government plans to auction eight spectrum bands for cellular services at a base price of about Rs 96,317 crore. The available spectrum includes bands in the 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz ranges.
Anticipated Spenders and Strategies
Reliance Jio has deposited the highest earnest money of Rs 3,000 crore for the spectrum auction, allowing the company to bid for maximum radiowaves. Analyst reports suggest that Airtel may be the biggest spender in the 2024 spectrum auction with an outlay of Rs 10,400 crore.
Read More - India Spectrum Auction 2024: Details of Spectrum Put To Auction
As per details released by the DoT, Bharti Airtel has submitted an earnest money deposit (EMD) of Rs 1,050 crore and Vodafone Idea (VIL) of Rs 300 crore. The assigned spectrum will be valid for 20 years, and successful bidders will be allowed to make payments in 20 equal annual instalments.
