India's first spectrum auctions in 5 years ended today (March 2). Telecom companies placed bids worth Rs 77,814 crores, with Mukesh Ambani's Reliance Jio accounting for over 70 percent of the bids.
Airtel bid for airwaves worth close to Rs 19,000 crore while Vi bid for airwaves worth close to Rs 2,000 crore.
Over 2,250 megahertz of spectrum worth Rs 3.92 lakh crore across seven bands were up for grabs. There were however no takers for airwaves in the premium 700 and 2,500 megahertz bands.
Telecom secretary Anshu Prakash said that if these two bands were to be excluded, 60 percent of the spectrum up for auction has been sold.
In an interview to CNBC-TV18's Ashmit Kumar, Prakash said that the value of spectrum sold have exceeded their expectations.
Watch video for more.Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.