"A total of 56 rounds are over. There is activity in five service areas. Total bids worth Rs. 58,980.29 crore were received, which is about 23 per cent more than the total value of radio waves put up for the auction from the base price," Telecom Secretary M F Farooqui said.
Bids worth 35,390.67 crore have been received in 1800 MHz band, which is 100.6 per cent of its value at the base price, and Rs.23,589.62 crore in 900 Mhz, about 85 per cent higher.
3G auction in 2010 lasted for 34 days, broadband wireless access (BWA) ended in 16 days. 2G auction in November 2012, on the other hand, ended in just two days, while the CDMA auction in March last year concluded the same day.
There is no time limit for the sale of spectrum and the duration of the current auction will depend on the appetite of the eight companies in the fray - Bharti Airtel, Vodafone, Idea Cellular, Reliance Jio Infocomm, Aircel, Tata Teleservices, Telewings (Uninor) and Reliance Communications.