Spectrum auction: Govt gets bids worth Rs 77,000 crore on Day 1

Spectrum auction: Govt gets bids worth Rs 77,000 crore on Day 1

Based on Monday’s total bids worth Rs 77,146 crore, the government would receive an upfront amount of about Rs 13,000 crore. Operators need to pay 25% of the total bid amount for spectrum below 1Ghz like 800 MHz, 900 MHz, and 50% for above 1 GHz like 2300 MHz, 1800 MHz. The balance can be paid in instalments spread over 16 years after a two-year moratorium.
Check the source here –Source, Financial Express.

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