The seventh day of bidding for India’s 3G Auction ended on the 17th of April with a provisional price for a Pan India Spectrum at Rs. 57.1 billion, a substantive 63.15 percent higher than the base price. The day saw an increase in the provisional price by Rs. 6.11 million (or 12.06%), the largest increase over a day yet.
The talking point of the day, is that the bids finally came in for Mumbai. Mumbai ended the day Rs. 1.29 billion up at Rs. 5.99 billion, while Delhi ended the day as the most expensive circle in the country for 3G spectrum, at Rs. 6.26 billion per available slot.
Gujarat’s growth paled in comparison, as Tamil Nadu overtook it at Rs. 5.49 billion per available slot. Gujarat ended the day at Rs. 5.33 billion, on par with Mahrashtra, with no bids for two slots at this price. Demand for Karnataka (Rs. 5.08 billion) and Andhra Pradesh (Rs. 4.94) billion.
When the bidding begins again 19th April, the provisional price for Delhi, Maharshtra and Tamil Nadu will be increased the most by the auctioneer. Note that the bidders can’t control the bid price.
Among Category B circles, Uttar Pradesh (West) increased to Rs. 2.26 billion, almost on par with Uttar Pradesh (East) at Rs. 2.29 billion. Demand for Madhya Pradesh also jumped up to Rs. 2.18 billion from Rs. 1.83 billion at the previous closing.
Demand for Category C circles remained low, at more or less stagnant, with the price remaining at around Rs. 300 million for Himachal Pradesh, Orissa, Assam, North East and Jammu & Kashmir. Price for spectrum in Bihar was marginally higher at Rs. 327 million.