Tata Teleservices wins spectrum; scrips in focus
DSIJ Intelligence / 10 Oct 2016
Tata Teleservices has informed bourses that the company has succeeded in winning 5MHz spectrum in 1800 MHz band each in Mumbai and Maharashtra Service Areas with a bid value of Rs 2446 crores and Rs 1590 crores respectively.
Tata Teleservices has informed bourses that the company has succeeded in winning 5MHz spectrum in 1800 MHz band each in Mumbai and Maharashtra Service Areas with a bid value of Rs 2446 crores and Rs 1590 crores respectively. The spectrum validity is 20 years and the company has option of deploying technology of its choice in the spectrum. The total upfront payment to be made to DOT (Department of Telecommunication) by the company is Rs 2018 crores. This is in addition to the current holding of 2.5 MHz each in Mumbai and Maharashtra in 800 MHz band which was acquired in the auction held in March 2015, which is valid for 20 years.
Shares of the company in the last 3 months have fallen by 13 per cent. Fifty-two week high/low of the stocks stands at Rs 9.40/5.42. Shares of the company will likely be in focus on October 10.
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