May 04, 2010
Bids for one set of nationwide third-generation (3G) mobile spectrum licences in India reached Rs 10749 crore (USD 2.41 billion), or more than three times the base price, on the 21st day of an auction, government data showed on Tuesday.
As of Tuesday, 122 rounds of bidding had been completed, the Department of Telecommunications said on its website. The auction started on April 9.
The base price for one set of pan-India licences had been set at Rs 3500 crore.
The government will sell four such licences — three from the auction and one set to state-run telecoms firms which would have to match the highest bid price paid by the private operators.
Nine mobile operators, including Bharti Airtel, Reliance Communications and Vodafone's Indian unit, are participating in the auction.