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Motilal Oswal Report
The telecom spectrum auction ended after six rounds on Day 2. The key highlights are-
The government raked in Rs 778 billion versus its expectation of Rs 450 billion from the sale of 855.6 megahertz of spectrum, ~37% of the total 2,308.8MHz put up for auction.
This is ~60% higher than the renewal spectrum requirement across telcos.
This was led by Reliance Jio/Bharti Airtel Ltd., which bought bulk of the spectrum - 488.35/355.45MHz – for Rs 571 billion/Rs 187 billion, i.e. 44%/104% higher than that required for renewal.
Vodafone Idea Ltd. response was muted. It bought spectrum worth Rs 20 billion in just five circles (76% lower than that required for renewal).
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