The Indian arm of Russian conglomerate Sistema, the sole bidder in the second round of spectrum auctions, won airwaves in eight circles for Rs 3,639 crore, but will make its first payment for these radio frequencies after three years. Though the Centre managed to sell only 40 per cent of the airwaves on offer, telecom secretary R Chandresekhar described the auctions as a success since it has helped 'establish the market value of CDMA spectrum'.
"In value terms, we have sold 56 per cent of the airwaves. I think the sale process has put pressure on Sistema to focus on areas which they think are important and viable and hence they may have bid for only eight circles," he added.

Source - http://economictimes.indiatimes.com