Bids for Rs 96,317-crore spectrum auction have been received by telecom companies namely Vodafone Idea, Bharti Airtel, and Reliance Jio, with the auction set to commence on June 6th.

Before the general elections, the auction was slated to begin on May 20, but the date was postponed.

The following frequencies will go up for sale: 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300 MHz, and 26 GHz.

At base pricing, the total frequencies up for grabs are worth Rs 96,317 crore.

Analysts and industry experts anticipate that the latest spectrum sale could be low ley due to India’s leading carriers’ existing 5G airwaves which are said to be sufficient to meet their present requirements. Bharti Airtel and Vodafone Idea (Vi) are believed to only make a few selective purchases in the auction due to their need to renew their airwaves in a few circles

Headed by Sunil Mittal In J&K, Odisha, Bihar, UP (East), West Bengal, and Assam, Airtel must renew its airwaves. Vodafone Idea's spectrum in the UP West and West Bengal circles has to be renewed.

According to recent estimates from Jefferies, Airtel and Vi only need to renew airwaves valued at approximately Rs 4,200 crore and Rs 1,950 crore, respectively, while Reliance Jio, the market leader, does not have any upcoming spectrum renewals this year.

The government had taken in more than Rs 1.5 lakh crore from the last spectrum sale, which took place in July 2022 and marked India's first 5G auction. At reserve prices, it had provided 20 years of airways across 10 5G bands at a frequency of over 72 GHz.

Successful bidders will be able to pay in 20 equal annual installments during the spectrum's 20-year assignment.

After a minimum of ten years, the Department of Telecommunications (DoT) has offered the opportunity to turn in the spectrum that was obtained through the next auction.

Financial bank guarantees (FBG) and performance bank guarantees (PBG) are not needed to be submitted by spectrum bidders.

On May 10, the DoT will release the applicants' ownership data.

May 17 is the deadline for application withdrawals, and May 20 is when the final bidder list is expected to be announced.

After the DoT issues a demand notice, the successful bidders have ten calendar days to deposit the money. Within 30 calendar days of receiving payment, the department will provide the winning bidder with a frequency assignment letter that details the frequencies.