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3G Auction India: Day 4 Bids Close At Rs. 45.89Bn; Gujarat Tops, Mumbai Weak

At Rs. 45.89 billion for pan-India spectrum at the end of 22 rounds, India’s 3G auction ended day four Rs. 10.89 billion (or 31.13 percent) higher from base price of Rs. 35 billion that it had begun with. The pace of the auction is increasing, and is expected to increase further. At the end of six rounds of auction on April 13th 2010, the base price was up by Rs. 2.59 billion, compared to 2.4 billion up at the end of six rounds the previous day.

Some circlewise trends, particularly among the higher priced circles:

— Gujarat topped the bids at Rs. 4.595 billion, and given that one more spectrum slot is demanded than the three available, the bidding will begin in the next round at Rs. 4.64 billion
— Delhi closed at Rs. 4.377 billion, but even with no excess demand at the end of day four, the auctioneer has raised its price to Rs. 4.422 billion
— Tamil Nadu came in third at Rs. 4.294 billion, with Maharashtra and Andhra Pradesh fourth at Rs. 4.251 billion.
— Karnataka saw bids of Rs. 4.209 billion, while Mumbai was the lowest among category A and Metro circles at Rs. 4.168 billion

Demand for Category C circles remained low, with the price remaining at Rs. 303 million for Himachal Pradesh, Orissa, Assam. Price for spectrum in Bihar was marginally higher at Rs. 324 million, and North East at Rs. 306 million.

Download the daily auction reports: 13th April12th April10th April9th April 2010

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