Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Politics / Bids for one all-India 3G licence reach Rs7,900 cr
BackBack

Bids for one all-India 3G licence reach Rs7,900 cr

Bids for one all-India 3G licence reach Rs7,900 cr

Premium

New Delhi: Bids for one set of nationwide third-generation (3G) mobile spectrum licences reached Rs7,900 crore ($1.78 billion), or 126%, above the base price, on the thirteenth day of an auction, government data showed.

Seventy-six rounds of bidding had been completed by Saturday, the Department of Telecommunications (DoT) said on its website. The auction started on 9 April and is still on.

The base price for one set of pan-India licences had been set at Rs3,500 crore.

The government will sell four such licences -- three from the auction and one set to the state-run telecom firms who 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.

There is no bidding on Sunday. The auction resumes on Monday.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Politics News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 25 Apr 2010, 10:49 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App