New Delhi: Bids for one set of nationwide third-generation (3G) mobile spectrum licences in India reached Rs14,466 crore ($3.21 billion) on the 28th day of an auction, an indication the government could earn revenue of about Rs58,400 crore from the auction.
As of Wednesday, 157 rounds of bidding had been completed, the Department of Telecommunications (DoT) said on its website.
Bidding for the spectrum, which would allow firms to offer high-speed Internet and other premium services such as video calling on mobile phone, started on 9 April and is expected to conclude in coming days.
The base price for one set of pan-India licences was set at Rs3,500 crore.
The government will sell four such licences -- three from the auction and one set to state-run telecom firms which would have to match the highest bid price paid by the private operators -- plus one extra licence each in five of the 22 telecom zones.
Nine mobile operators, including Bharti Airtel, Reliance Communications and Vodafone’s Indian unit, are participating in the auction.