Bids for one set of nationwide third-generation (3G) mobile spectrum licenses in India reached 107.49 billion rupees ($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 licenses had been set at 35 billion rupees. The government will sell four such licenses — 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.