Spectrum auction: DoT to issue demand letters to telcos this week for payment

New Delhi. The Department of Telecommunications may issue demand letters this week to telecom companies for payment of spectrum purchased in the recently concluded auction, a source said. In the auction that lasted two days in seven rounds, 141.4 MHz radio waves were sold for Rs 11,340.78 crore. This time, during the auction which started on June 25, a total of 10,500 MHz radio waves worth Rs 96,238 crore were put up for bid. Sunil Mittal’s Airtel acquired about 60 percent of the spectrum worth Rs 11,341 crore sold in this auction.

It emerged as the largest bidder for radio waves. Airtel bid and acquired airwaves worth Rs 6,856.76 crore. In this auction, Reliance Jio acquired spectrum worth Rs 973.62 crore, while Vodafone Idea Limited (VIL) bid for spectrum worth about Rs 3,510.4 crore.

The government got a total of Rs 11,340.78 crore from this spectrum auction. This is just 12 per cent of the estimated value of Rs 96,238 crore of the spectrum put up for sale by the government. Sources said the demand letter will mention both the options – upfront payment or payment in installments. It is expected to be sent to various telecom companies early this week. As per the terms of the bid document, the payment has to be made within ten days of the issuance of the demand letter.

Disclaimer: CricketInFocus has not edited this news. This news has been published from PTI-language feed.

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