Bids for one set of nationwide third-generation (3G) mobile spectrum license reached 79 billion rupees (1.78 billion in dollars), or 126% above the base price on this thirteenth day of an auction.
The auction started on April 9 and is still on. Till now, 76 rounds of bidding had been completed by Saturday, the Department of Telecommunications said on its website. The base price for one set of pan-India licenses had been set at 35 billion rupees.
Government will sell four such licenses. Three from the auction and one to the state-run telecoms firms who would have to match the highest bid price paid by the private operators. All major mobile operators including Bharti Airtel, Reliance Communications and Vodafone’s Indian unit, are participating in the auction.
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