Home » Spectrum auction nets Rs 14,000 crore as deposits

Spectrum auction nets Rs 14,000 crore as deposits

Spectrum auction nets Rs 14,000 crore as deposits

Seven telecom operators have deposited Rs 14,653 crore as earnest money for the largest spectrum auction from October 1. The Department of Telecommunications (DoT) has said that Reliance Jio, Bharti Airtel, Idea Cellular and Vodafone can bid in any spectrum band in any of the telecom circles in the country. There are 22 telecom circles in India. The maximum earnest money deposit (EMD) of Rs 6,500 crore was submitted by Jio.

Vodafone India has submitted EMD of Rs 2,740 crore, followed by Idea Cellular’s Rs 2,000 crore and Bharti Airtel’s Rs 1,980 crore. While they can bid in any circle, they may not be able to bid for the 700-MHz band. EMD indicates a companyÂ’s strategy to bid in specific circles and spectrum bands. It gives them eligibility points with regard to circles and bands.

Tata Teleservices has submitted an EMD of Rs 1,000 crore, Reliance Communications Rs 313 crore and Aircel Rs 120 crore. For Tata Teleservices, the net worth of promoters has been taken into consideration for bidding on behalf of Tata Teleservices Maharashtra (in Mumbai and Maharashtra). It can bid for all bands in the Mumbai and Maharashtra circles.

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