New Delhi, Aug 18 (IANS) The Department of Telecom (DoT) Monday began inviting bids from companies wanting to manage the e-auction for spectrum allocation of next generation mobile applications in 22 telecom circles. The bids to conduct the allocation for third-generation (3G) and broadband wireless services can be submitted till Sep 3. Technical bids will be opened Sep 17 and financial bids two days later.

The bidder should either be a registered company under the Indian Companies Act, a foreign firm incorporated in another country, or a joint venture of such companies.

Bidders are required to pay a non-refundable processing fee of Rs.50,000 or its equivalent in foreign currency.

Under DoT’s specifications, the bidder should neither hold any stake, direct or indirect, in an Indian telecom company or Internet service provider (ISP), nor have a telecom or ISP as a stakeholder.

Moreover, the bidder company and its major equity holders should have a combined net worth of at least Rs.250 million or equivalent.

It should also have the experience of conducting at least five e-auctions in the past three years with the total auction value to be Rs.250 billion or equivalent.

Additionally, it must have conducted at least one e-auction on a simultaneous ascending system valued at more than Rs.1 billion or equivalent during the past five years.