Introduction
The Spectrum Auction of 2015 marked one of the most intense and contentious auctions in India’s telecom history, often referred to as a “bloodbath” due to the fierce competition among operators. This auction highlighted the immense pressure on telecom companies to secure spectrum for business continuity, particularly for those whose licenses were nearing expiration. The 2015 auction underscored the challenges posed by limited spectrum availability, regulatory inconsistencies, and the use of aggressive bidding tactics by competitors to drive up prices.
Reserve Prices – A Continued Complexity
The reserve prices for the 2015 auction were recommended by TRAI across multiple rounds of valuation inputs, involving a complex and sometimes contradictory approach. TRAI released its recommendations for reserve prices for different spectrum bands on multiple occasions: first for the 800 MHz band on 22nd February 2014, then for the 900 and 1800 MHz bands on 15th October 2014, followed by a revised valuation of the 800 MHz on 27th November 2014, and finally for the 2100 MHz on 31st December 2014. The methodology used for this auction was largely consistent with the approach used in the 2014 auction but added new complexities.
