Day one of spectrum sale sees bids worth ₹77,146 cr

Telecom operators on Monday placed bids worth ₹77,146 crore in India’s first 4G spectrum auction in more than four years against the government’s expectation of ₹45,000 crore, communications, electronics and information technology minister Ravi Shankar Prasad said.

The department of telecommunications (DoT) aims to raise at least ₹3.92 trillion in the auction of 2,308.8MHz of spectrum. The auction will continue on Tuesday, the minister told reporters.

All three telecom operators—Reliance Jio Infocomm Ltd, Bharti Airtel Ltd and Vodafone Idea Ltd—which submitted earnest money deposits took part in the auction.