Telecom Auction Raises ₹11,340.78 Crore After Intense Bidding

The telecom department is poised to issue a demand note to telecom companies this week for payment of the spectrum bought during the recent auction, which concluded over two days and seven rounds. Airtel emerged as the biggest bidder, securing 60% of the ₹11,340.78 crore spectrum sold.

The telecom department is set to issue a demand note to telecom companies this week for spectrum payments following the recently concluded auction, according to a source.

The auction, spanning two days and seven rounds, saw the sale of 141.4 MHz of radio waves for ₹11,340.78 crore.

Overall, 10,500 MHz of spectrum valued at over ₹96,238 crore was available for auction starting June 25. Sunil Mittal's Airtel emerged as the top bidder, securing approximately 60% of the ₹11,341 crore worth of spectrum sold.

Airtel acquired airwaves worth ₹6,856.76 crore, while rival Reliance Jio won spectrum worth ₹973.62 crore, the lowest among the competitors. Vodafone Idea's (VIL) bid for spectrum amounted to approximately ₹3510.4 crore.

Sources say the demand note will offer both upfront payment and installment options, expected to be sent early this week. According to the bid terms, payments must be made within ten days of receiving the demand note.

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