Govt to auction 2251.25 MHz spectrum in March: Ravi Shankar Prasad

Minister of Law and Justice Ravi Shankar Prasad (ANI photo)NEW DELHI: The Cabinet has accepted the telecom department’s proposal on the next spectrum auctions at its meeting on Wednesday, which would include a sale of only 4G airwaves and will be held in March.Telecom and IT minister Ravi Shankar Prasad said that the government will auction a total of 2251.25 MHz spectrum in 700MHz, 800MHz, 900MHz, 1800MHz, 2100MHz, 2300 MHz and 2500 MHz bands. 2251.25 MHz will be offered with total valuation of Rs. 3,92,332.70 crore (at reserve price).The Department of Telecom will issue Notice Inviting Applications (NIA) from telecom companies for auction process within this month.”By winning the right to use spectrum through the auction, incumbent telecom service providers will be able to augment their network capacity whereas new players will be able to start their services,” the government said in an official release.Successful bidders may pay entire bid amount in one go (upfront) or may exercise an option to pay a certain amount (25% for spectrum won in 700 MHz, 800 MHz, 900 MHz bands or 50% for spectrum won in 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz bands) upfront and remaining amount in a maximum up…
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