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3G spectrum bids reach Rs7,570 cr on Day 12

3G spectrum bids reach Rs7,570 cr on Day 12
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First Published: Fri, Apr 23 2010. 11 38 PM IST

Pan-India license: The government is auctioning spectrum for operating 3G services in 22 designated telephone zones. Hemant Mishra/Mint
Pan-India license: The government is auctioning spectrum for operating 3G services in 22 designated telephone zones. Hemant Mishra/Mint
Updated: Fri, Apr 23 2010. 11 38 PM IST
New Delhi: Bids for an all-India licence to offer faster wireless services reached Rs7,570 crore on the 12th day of the auction, according to a statement on the website of the department of telecommunications (DoT).
Pan-India license: The government is auctioning spectrum for operating 3G services in 22 designated telephone zones. Hemant Mishra/Mint
Nine mobile service providers, including Vodafone Essar Ltd and Bharti Airtel Ltd, are vying for spectrum to offer 3G services in the world’s second largest wireless market by subscribers.
The government is auctioning spectrum for operating 3G services in India’s 22 designated telephone zones. It plans to sell 93 licenses to provide high-speed data to mobile phones and computers that may raise an estimated Rs50,000 crore, helping reduce the nation’s fiscal deficit.
The Internet-based auction could take as long as two weeks, according to Dan Maldoom, an economist at DotEcon Ltd, one of the two advisers to the government.
NM Rothschild and Sons Ltd is the other adviser.
A pan-India license could cost bidders as much as $2 billion (Rs8,900 crore), Shubham Majumder, regional head of telecommunications research at Macquarie Group Ltd, had estimated on 7 April.
The government will issue daily updates on the bidding and all data collected from bidders will be made public after the auction is over.
The amount for an all-India license does not include Assam, which has received no bids so far.
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First Published: Fri, Apr 23 2010. 11 38 PM IST