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3G Auction India: Day 23 Sees Higher Activity, Bids Spread, Excess Demand

Day 23, on which the minimum activity level was set to 100 percent during the 132nd round of India’s 3G Auction, only four rounds of bidding were held, and the pan-India spectrum price increased by 2.54% (Rs. 2.84 billion) to Rs. 113.27 billion. Bids returned, and how, as Delhi, Mumbai, Andhra Pradesh, Karnataka, Tamil Nadu, Punjab and Bihar all saw excess demand. Bihar saw as many as 7 bids for the 4 slots available. That clearly indicates that at least 7 of the bidders are still in the auction; two of them didn’t bid for Delhi, Karnataka or Mumbai in the 132nd round.

What’s notable about the day was that bids were, for the first time since the initial rounds of bidding, spread across circles: only seven circles saw no appreciation in price, compared to 11-13 circles over the last six to ten days. Remember that on May 1st, 17 circles had less than par demand.

— The price of a pan-India slot of spectrum was 225.64% higher than the base price, Rs. 78.274 higher than Rs. 35 billion.
– Together, Delhi and Mumbai account for 35.3% of the pan-India price; consistently remained above 30% over the past week or so.
– Delhi, Mumbai, Maharashtra and Karnataka account for 60.41% of the pan-India price

– Price for West Bengal, Himachal Pradesh, Assam, North East and Jammu and Kashmir been more or less the same for 10 days now.
– Price for Madhya Pradesh increased (1%) for the first time in the last 10 days, Rajasthan for the first time in the last 5.
– Price for 7 circles – Madhya Pradesh, West Bengal, Himachal Pradesh, Assam, North East and Jammu and Kashmir been more or less the same for 10 days now.
– Price for Bihar and Orissa increased almost 2 percent, with Bihar at Rs. 398 million, Orissa at Rs. 324 million.

– Karnataka edged out Maharshtra to the number 3 spot at Rs. 10.73 billion, with Maharashtra at Rs. 10.62 billion.
– Delhi and Mumbai closed the day 4 percent up each, with Mumbai at Rs. 19.87 billion, Delhi at 19.2 billion.
– Price for Jammu & Kashmir hasn’t increased for all 21 days, and though it has occasionally received bids, it has never witnessed 100% demand.

Download all the 3G Auction documents here

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