Telecom spectrum 2021: Reliance Jio, Bharti Airtel, and Vodafone Idea exceed government's expectations with this massive bidding on Day 1

As Telecom spectrum auctions began on Monday, the government was pleasantly surprised with the interest shown by participating companies—Reliance Jio, Bharti Airtel, and Vodafone Idea. First spectrum auction in five years, the opening day of the spectrum auction 2021 fetched bids worth Rs 77,146 crore from the participating companies.   

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The government said that the response was better than they had expected. The government had anticipated bids worth Rs 45,000 crore. 

Union Minister Ravi Shankar Prasad said that Rs 77,146 crore worth of spectrum was bid on the first day but there were no takers for the airwaves in the premium 700 MHz and 2500 MHz bands.   

"The winning bids that have come till 6 PM today is Rs 77,146 crore. We thought since there are only three players, and spectrum replacement is happening. Our estimation was that the bids will touch about Rs 45,000 crore, but it is a matter of assurance that it has gone as high as Rs 77,146 crore," Prasad was quoted by PTI as saying. 

About 2,308.80 MHz of spectrum in seven bands worth nearly Rs 4 lakh crore at the reserve price was offered for bidding. There have been bids for 849.20 MHz so far. 

However, there were no takers for spectrum in 700 MHz and 2500 MHz bands on the first day. 

Bids were received in 800 MHz, 900 MHz, 1800 MHz, 2100 MHz and 2300 MHz bands, said reports. 

"Total value of spectrum put to auction was about Rs 4 lakh crore. In this, 700 MHz band was a costly band, and that cost itself is Rs 1.97 lakh crore," the minister said.