Mon, 12 Nov 2012 20:00:00 GMT | By PTI

2G auction: Bids of over Rs 9,200-cr received

The bids received so far are a far cry from the Rs 28,000 crore minimum revenue that the govt was expecting from the auction of wireless spectrum


2G auction: Bids of over Rs 9,200-cr received (© Reuters)

New Delhi: The government today received bids worth more than Rs 9,200 crore on the opening day of auction for 2G mobile phone spectrum that drew scant interest due to high base price.

There was no bidder for pan—India airwaves for which the government had set a base or bid start price of Rs 14,000 crore even as demand was concentrated in select circles like Gujarat, Uttar Pradesh (East) and Uttar Pradesh (West).

Of the 22 telecom circles, which cover the entire nation, bids were received for 18, with Delhi, Mumbai, Rajasthan and Karnataka which had the highest base price drawing a blank.

“The total quantum of revenue bid is for a little over Rs 9,200 crore (at the end of the fifth round),” Telecom Secretary R Chandrashekhar said.

(Continued)
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