2G spectrum auctions to continue on Wednesday

After seven rounds that ended at 7.30 pm Monday, telcos were still bidding in 4 circles - UP East & West, Bihar and Orissa. In the remaining 14 circles, the bids did not cross the reserve price.

In four circles, including Mumbai & Delhi, the government did not receive any bids. Telecom department officials say the bidding is likely to conclude within the initial rounds on Wednesday.

Close to 50% spectrum remains unsold. Total value of the bids placed on Monday was Rs 9200 crore, less than a fourth of the government's estimates of Rs 40,000 cr from the sale process.

Click here for Auction Results on Day One