Government earn RS 16,750 crore for Spectrum auction fiscal

Spectrum auction fiscal

PTI, February 10, Jasmine Ahmed: Government will get a minimum Rs 6,750 crore for spectrum auction fiscal in current, which has so far general bids worth Rs 56,554.92 crore , 42 rounds of bidding. Secretary of Telecom MF Farooqui said, there will be realization of at least Rs 16,750 crore in current fiscal. Bidder pays the money upfront and the remaining amount a maximum 10 year instalments. Telecom Secretary MF Farooqui said, that a total of 42 rounds are over, Bids worth around Rs 33.082 crore are receive for 1800 MHZ and Rs 23,472.34 crore for 900. All total of Rs 56,554.92 crore. The auction is witnessing aggressive bidding in the premium 900 MHZ band from companies as Vodafone, Reliance Jio and Bharti Airtel, the price of Delhi circle already doubled Rs 733.63 crore per MHZ from the base price Rs 563.09 crore per MHZ   Vodafone get spectrum in 900 MHZ band in Delhi, Mumbai and Kolkata they went to continue operations in the band as their licences are coming up for in November. In the way, the companies fail to get spectrum in 900 MHZ band and then they have to shift their infrastructure to 1800 MHZ band to continue operations. Reliance Jio is also bidding for the 900 MHZ band, leading to a price rise, said the sources. At present, Vodafone owns 8 MHZ in 900 MHZ band in Delhi and Mumbai. The country’s current fiscal deficit Rs 5.16 lakh crore already crossed 95% of budget target in the 1st nine month of 2013-14. Auctions have 2 bands, which use for 2G service and received a strong response. There is no limit time for sale of spectrum and that period, the current auction will depend on the eight companies- Bharti Airtel, Vodafone,  Idea Cullular, Reliance Jio infocmm, Aircel, Tata Teleservice, Telewings and Reliance Communication.

Bharti Airtel stock price

On February 10, 2014, Bharti Airtel closed at Rs 307.40 down Rs 8.1, or 2.57%. The 52 week high of the share was Rs 373.50 and low Rs 266.95. The stock’s price to earnings ratio 21.85. The book value of the company is Rs 135.70, at current value of book of the company Rs 2.27.      


Posted by on February 10, 2014. Filed under Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.