So yesterday was an anomaly. Day eight of bidding for India’s 3G Auction ended on the 18th of April with a provisional price for a pan-India spectrum at Rs. 60.675 billion, 73.36 percent higher than the base price, but an on-par 6.26 percent higher than the previous day. At the end of the day, the provisional winning price for pan-India spectrum was up Rs. 3.57 billion higher, and Rs. 25.67 billion higher than the base price of Rs. 35 billion.
Bidding appeared muted during the last clock round for the day, with only a few circles – Delhi, Maharashtra and Andhra Pradesh witnessing more bids than spectrum slots available. The Jammu & Kashmir circle, not unexpectedly, saw no bids at all. Bids for 11 of the 22 circles will see no increment when bidding resumes on the 20th of April 2010. Note that the bidders can’t control the bid price.
Among Category B circles, Uttar Pradesh (West), at Rs. 2.442 billion crossed Uttar Pradesh (East), which closed at Rs. 2.355 billion. Demand continued to be low for West Bengal, at Rs. 1.23 billion, and for Category C circles, was stagnant at around the Rs. 300 million mark for most circles, with only Bihar at Rs. 327.6 million.