The Department of Telecom (DoT) has issued an amendment which says that the new date for “start of the live auction” has been changed to June 25th from June 6th.
This is the second time DoT has changed the date from the original date of May 20th. DoT also said that mock auction will be held on 13th and 14th June.
This auction will see 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300 MHz, and 26 GHz Bands being auctioned, valued at Rs. 96,317.65 crore.
The Department of Telecom (DoT) recently announced the earnest money deposit (EMD) bank guarantee by the applicants, Reliance Jio, Airtel and Vodafone Idea (Vi). Reliance Jio has deposited Rs. 3000 crore, which is more than twice the amount of both the Airtel and Vi combined, which is Rs. 1050 and Rs. 300 crore, respectively.
All the three companies can bid in any band in any LSA, said DoT. Airtel and Vodafone Idea need to renew airwaves valued at around Rs. 4,200 crore and Rs. 1,950 crore, respectively. Reliance Jio doesn’t have any spectrum renewals due this year.
Telecom companies bidding successfully will gain 20-year licences for the spectrum, with the option to surrender it after 10 years. Payments can be made in 20 equal yearly instalments.
The government is expected to receive bids worth Rs. 18,000 crore, which is only 19% of the spectrum that will up for sale.