spectrum that is being put up and the overall structure, it is not going to be a very successful auction.
"We don't expect the auction to meet any of the objectives that the government has set, so overall if you use that as the criteria, clearly it's not a very successful auction," he said.
At the end of the auction, companies will have the option to pay either full amount of 33 per cent of final price by December 25.
The final auction price will then determine the amount that government will get from one-time levy on spectrum held by existing operators beyond 4.4 Mhz.
The government expects to garner Rs 31,000 crore from this one-time levy throughout the validity period of existing licences. The major portion of the estimates include price calculation based on reserve price.