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The latest Indian spectrum auction started with a bang on Monday, 3rd February 2014 when government got bids of 40,000 crore on the very first day of the auction.
This so happened as the telecom king, Vodafone and Airtel fighting to maintain their turf in the regions of Mumbai, Kolkata and Delhi against their biggest rival Reliance Jio Infocomm.
It is the biggest auction conducted by the government involving eight of the mobile phone companies bidding for 385 MHz of frequency in the 1800 MHz band and 46 MHz frequency in 900 MHz band in the protracted 10:30 hrs auction which took place on Monday. The auction procedure started at 9 am which ended after seven rounds at 7:30 pm. The government has set a pan-India rate of Rs 1,765 crore per MHz as the start price for spectrum in the 1,800MHz band, which is about 26 percent lower than the base rate in the March 2013 sale, where there were no takers for GSM airwaves.
If the so called "Telecom king" looses the auction then they might lose around 3 million of their customers, as Airtel and Vodafone’s licenses are to come up by the end of December 2014.
The bidding price continues to increase as the auction continues for the second day, by the end of the day, telecom companies continues to hassle each other as the bids hit Rs. 46,000 crores. Delhi and Bombay continues to be the main highlight of all the companies and especially of Vodafone and Airtel.
The auction is likely to continue for some more days. So stay tuned for more updates.
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