Broadband bids at $1.35 bn in opening week

Broadband bids at $1.35 bn in opening week
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First Published: Sun, May 30 2010. 06 15 PM IST
Updated: Sun, May 30 2010. 06 15 PM IST
New Delhi: India received bids totalling Rs6,273 crore ($1.35 billion) for one set of nationwide wireless broadband spectrum licences in the first week of an auction, government data showed.
The current auction follows one for third-generation (3G) spectrum that ended on 19 May, after 34 days of bidding. The sale fetched Rs67,700 crore in revenue for the Indian government, nearly double the total estimated from both 3G and wireless broadband spectrum auctions.
Eleven firms, including India’s top three telecoms firms -- Bharti Airtel, Reliance Communications and Vodafone Essar -- and US chipmaker Qualcomm Inc, are bidding for broadband spectrum.
The auction started on 24 May, with a base price for one set of all-India wireless broadband spectrum licence at Rs1,750 crore. As of Saturday, the bidding had gone 34 rounds over the five days.
Two all-India broadband licences are on offer for private firms, while a third set has been reserved for state-run firms which would have to match the final bid prices.
At the current bid prices, the government could get revenues worth about 188 billion rupees.
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First Published: Sun, May 30 2010. 06 15 PM IST
More Topics: India | Telecoms | Broadband | Bid | Reliance |