Updated April 3rd, 2024 at 22:22 IST

DoT delays spectrum auction to June 6

The mock auctions will now be held on June 3 instead of May 13 and 14 after the date for Lok Sabha election results was slated for May 20.

Reported by: Business Desk
मोबाइल टॉवर | Image:pti
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The Department of Telecom (DoT) has delayed the auction for spectrums by 17 days to June 6, as per an April 3 notice inviting  application for the bids.

In a move to ease liquidity for bidders, the department has also brought down the bank guarantee as well as guarantee for earnest money deposit.

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The new date for starting the live auction as per the amended announcement is June 6, on the back of the Lok Sabha election results  announced from May 20.

Mock auctions have also been delayed to June 3, from the earlier date of May 13 and 14.

Eight spectrum bands for mobile phone services will be auctioned by the government at a base price of about Rs 96,317 crore.

The number of blocks for auction has also been reduced by the department from the earlier proposed 48, to 44 in the 900 Mhz band in the West Bengal circle.

Earnest money deposit (EMD) in the form of bank guarantee will be valid for a lesser period as well, till September 30, 2024 instead of the earlier proposed December 31, 2024 date.

The spectrum auction will include all the available spectrum in the 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz, and 26 GHz bands.

Assigned for a two-decade period, the spectrum will allow for successful bidders to make payments in 20 equal annual instalments.

Spectrum acquired through the upcoming auction can be optionally surrendered after a minimum of 10 years, the DoT said.

(With PTI Inputs)

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Published April 3rd, 2024 at 22:22 IST