As expected, the pan-India 3G spectrum price has crossed Rs. 100 Bn at the end of day 20 of the countrys 3G Auction. At the end of 116 rounds, the provisional winning price was at Rs. 103.48 Bn. Some observations on the auction:

— Price increased by Rs. 4.273 billion over 6 rounds on 2nd May
— Price for a pan-India spectrum slot is 68.44 Bn higher than the base price of Rs. 35 billion; thats 195.65% over base price
— There appears to be a trend: price for 11 circles did not increase on 2nd May; over the past few days, price for 10-11 circles has more or less remained the same, day on day, so it appears bidders are spreading their bids across 11-12 circles at a time.
— Delhi, Mumbai and Maharashtra are three circles priced beyond the Rs. 10 Bn mark, per slot.

— Together, Delhi and Mumbai account for 32.4% of the pan-India price
— Together, Delhi, Mumbai and Maharashtra account for 42.5% of the pan-India price
— Price for 7 circles – Madhya Pradesh, West Bengal, Himachal Pradesh, Orissa, Assam, North East and Jammu and Kashmir been more or less the same for 8 days now.
— Price for Jammu & Kashmir hasn’t increased for all 20 days, and though it has occasionally received bids, it’s never witnessed 100% demand.

— For a second day in a row, price for Gujarat rose the most (9.1% on 2nd May, 8.18% on 1st May), after days of very little change
— Price for Delhi and Mumbai has consistently increased the most: on 2nd May, Delhi rose by 6.71% to close at Rs. 16.54 Bn, and Mumbai by 5.5%, to close at Rs. 17.06 Bn. Karnataka also rose by 8%.

— The minimum activity requirement was increased to 90% on 30th April.
— Mumbai, Andhra Pradesh, Karnataka and Kolkata saw excess demand on May 1st. Karnataka, like the previous day, had maximum demand, and its price will be increased the most at the resumption on bidding on May 4rd.
— 15 circles had less than par demand on May 1st.