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3G Auction India: Day 10 Bids At Rs. 66.34 Bn, Up 89.55%; Demand Reduces

There was limited excess demand for 3G spectrum during the last round of day 10 of India’s 3G Auction: all Category A and Metro circles reported no excess demand during round 58, and for most of the others, there were more spectrum slots on offer than takers. Only Kolkata and Uttar Pradesh (East) saw an extra bid each. Round 58 ended with a provisional winning price for pan-India spectrum at Rs. 66.34 Bn, up 89.55 percent from its base price. Day-on day, the provisional winning price was up just Rs. 2.801 billion (4.41 percent).

Delhi, Mumbai and, surprisingly, Tamil Nadu, topped the charts with bids of Rs. 7.71 billion, Rs. 7.09 billion and Rs. 6.63 billion.

Maharashtra (Rs. 6.63 billion), Karnataka (Rs. 6.08 billion), Andhra Pradesh (Rs. 5.90 billion) were next, with Gujarat having run out of steam at Rs. 5.72 billion.

All of these circles, alongwith Kolkata (Rs. 2.02 billion) and Uttar Pradesh (East) (Rs. 2.47 billion), will begin round 59 at a higher price than the previous round. For the rest of the 13 circles, there will be no increment. Note that the bidders can’t control the bid price.

The government hasn’t disclosed the activity level yet, but only if minimum activity requirements are increased, will we see the real picture, and teleco’s fight to retain their slot. Note that bidders aren’t aware of each others’ bids.

Download the daily auction reports:21st April / 20th April / 19th April17th April16th April15th April /  13th April12th April10th April9th April 2010

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