Telecom Giants Face Rs 11340 Crore Spectrum Bill This Week! Airtel Wins Big

India held a spectrum auction for mobile services. Airtel was the biggest spender, grabbing 60% of the offered spectrum. The government expects to collect Rs 11,340 crore from the sale this week.

Airtel Wins Big! Telecom Giants Face Rs 11340 Crore Spectrum Bill This Week

The telecom department is anticipated to issue a demand note to telecom companies this week for the payment of spectrum acquired in the recently concluded auction, according to a source.

The auction, which spanned two days and seven rounds, resulted in the sale of 141.4 MHz of radio waves for Rs 11,340.78 crore.

In total, 10,500 MHz of radio waves, valued at over Rs 96,238 crore and used for mobile services, were available during the auction that began on June 25.

Sunil Mittal’s Airtel emerged as the top bidder, securing about 60 percent of the Rs 11,341 crore worth of spectrum sold in this auction. Airtel acquired spectrum worth Rs 6,856.76 crore, while rival Mukesh Ambani’s Reliance Jio, the market leader, purchased spectrum worth Rs 973.62 crore, the smallest amount in the three-way competition. Vodafone Idea (VIL) bid for spectrum valued at approximately Rs 3,510.4 crore.

Sources indicate that the demand note will provide both upfront payment and installment options, and it is expected to be sent to various telecom companies early this week. According to the bid document terms, payments must be made within ten days of receiving the demand note.