All-India 3G spectrum price rockets to Rs7599 crore
24 Apr 2010
The bid price for all-India 3G spectrum shot up over 100 per cent at Rs7,599 crore on the 12th day of the auction process, yesterday registering the fastest rise in revenues for the government on a single day. The national exchequer is now guaranteed to net a minimum of Rs30,756 crore.
The 12th day saw the reserve price increase by Rs2,528 crore, the fastest rise in a single day since 9 April when the auction got under way. Delhi, the most-coveted circle touched Rs1,030.72 crore topping the rest followed by Mumbai at Rs989.48 crore.
However in Delhi circle, there is no excess demand as of now and the operators can always return and put their bid for the circle as had happened earlier.
Bid price for Maharashtra circle stood at Rs746.50 crore with a negative demand of two blocks against three blocks that went on sale.
According to analysts the activity level is still at 80 per cent, which shows that operators are concentrating only on metros and category A service areas.
The government has budgeted for Rs35,000 crore from the auctions of 3G and Broadband Wireless Access (BWA) spectrum.
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