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Spectrum auction: Govt gets bids over Rs 9,200 crore on day 1

Source : PTI
Last Updated: Mon, Nov 12, 2012 15:01 hrs

The government on Monday 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.

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