UPA II Govt gets Rs.18,267 cr upfront spectrum payment Monday March 03,2014

The UPA II Govt on Monday March 03,2014 received payment of Rs.18,267 crore, about Rs.30 crore less than the bids received from seven companies in the spectrum auction last month because of unavailability of radiowaves in some parts of the service areas.

“All companies have made upfront payment on Monday March 03,2014. Total of about Rs.18,267 crore has been received,” Telecom Secretary M. F. Farooqui told

The amount received exceeds the government’s target of about Rs.11,333 crore set for the current fiscal ending March 31,2014 by about 61%

The UPA II Govt received bids worth Rs.62,162 crore in the auction for 1800 Mhz and 900 Mhz bands. 

The winners are — 

• Vodafone
• Airtel
• Reliance Jio Infocomm
•  Idea Cellular
• Telenor (Uninor)
•  Reliance Communications and
•  Aircel 

The winners had the option of paying in instalments — 33 % upfront for the 1800 Mhz bank and 25 % for the 900 Mhz band. 

Upfront payments made by the winners are -

• Vodafone, the biggest winner of spectrum, had to make Rs.5,582 crores
• Airtel Rs.5,425 crores
• Idea Rs.3,240 crores
• Reliance Jio Infocomm Rs.3,648 crores
• Telewings (Uninor) Rs.290 croress
• Aircel Rs.69 crores and 
• Reliance Communications Rs.54 crores