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3G Auction India: Day 14 Ends At Rs. 83.83 Bn; Mumbai Edges Out Delhi

Total bid value for a pan-India spectrum at  India’s 3G Auction, stood at Rs. 83.83 billion. Almost 30 percent of that money has been bid for the two circles of Mumbai and Delhi: Mumbai, at Rs. 12.53 billion per slot of spectrum, has edged out Delhi, which ended round 82 of bidding at a provisional price of Rs. 12.10 billion per slot. The cost of pan India spectrum is now 139.51% higher than the price of Rs. 35 billion it began with. With bids at these obscene levels – and who knows where they will go from here – questions are again being raised about the arbitrary allocation of licenses and 2G spectrum in India two years ago. The Economic Times explains this in detail, here.

So how lop-sided is this auction becoming? Take a look at the chart below, with provisional bids at the end of Day 14:
India 3G Auction Round 14

Metro and Category A Circles
3G Auction India Day 14 B

The provisional winning bid for Mumbai rose the most during the day, by 15.9 percent, while Delhi rose by 11.69 percent. Gujarat, which led the bid during the initial stages (much to our surprise) is now the lowest among the Category A circles at

Category B Circles

3G Auction India day 14

One change: demand for the Kerala circles was high, which led to it leapfrogging Uttar Pradesh (East) to finish at number two at a provisional winning bid of Rs. 2.639 billion, while UP (E) barely rose during the day, ending at Rs. 260.08 billion from Rs. 2.58 billion the previous day. UP (W) appears to have left the rest behind, though, topping this cart at Rs. 3.10 billion, up 3.1 percent for the day.

Category C Circles

There was very little – if at all any – change in demand for 3G spectrum in circles like Himachal Pradesh, Bihar, Orissa, Assam, North East and Jammu & Kashmir, though unlike in the previous rounds, a few bids did come in. The bids for slots were invariably less than the number of slots available, so the provisional bid winning price was lower than at the beginning of round 82.

Note:
— Bidders have no control over pricing
— Bidders might have to bid for circles just to keep their ‘activity points’ up

Download:

— Complete auction details for April 26th: 26th April
— Daily auction reports for previous days: 24th April / 23rd April22nd April21st April20th April19th April17th April16th April15th April /  13th April12th April10th April9th April 2010

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