The Indian government said that it would allot 3G spectrum to successful bidders on 1 September, whereas broadband wireless access (BWA) airwaves would be allotted to the bid winners immediately. P J Thomas, telecom secretary, provided this information at a press meet.
Rejecting the criticism of faulty auction process raised by some players, Thomas said, “While the overall proceeds from the auction for 3G and BWA spectrum at over Rs 1,06,000 crore have exceeded all expectations, an equally important aspect is that the true market value of the spectrum was determined through an efficient and transparent process.”
The revenue achieved is more than three times the target of Rs 35,000 crores fixed by the Ministry of Finance in its budget documents and more than five times the reserve price.
The auctions were conducted by DoT, along with the auctioneer consortium of N M Rothschild India (Private) Limited and DotEcon of UK. The 3G and BWA spectrum is allotted for 20 years.