2G Spectrum Auction fetches Rs 9,407 Crore

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TNI Bureau: The much-awaited 2G spectrum auction failed to evoke any good response, as only Rs 9,407 crore were collected against the government’s estimates of Rs 40,000 crore.

During the two-day auction, bids were received only for 98 blocks out of 176 that were put on auction. The auction was held after the Supreme Court cancelled 122 telecom licences.

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Videocon Telecom bagged 2G spectrum in six circles for Rs 2,222 crore. The company won the bids in Uttar Pradesh, Madhya Pradesh, Bihar, Gujarat and Haryana. It already has Punjab in its kitty.

Idea won the bids in seven circles, while Telenor got spectrum in 6 circles. Airtel and Vodafone won spectrum in one circle each. Metro cities of Delhi and Mumbai failed to receive even a single bid.

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