Saturday took the 3G bidding to a dizzy height. The bidding reached Rs 7,900 crore at the end of bidding on Saturday which is more than double the initial base price of Rs 3,500 crore which was set at the start of the bidding on 9th of April. The bidding amounts have scaled over 76 rounds of bidding which have taken over 13 days to be complete.
We blogged about the highest increase in the bidding which took place on the 7th day. The delhi circle had emerged as a favorite among bidders then. Even on saturday Delhi was slightly ahead with 1083 crore in bidding vs mumbai’s 1079 crore.
At the current bidding spree the government could easily net a sum of Rs 31,600 crore from the 3G auctions if all the available slots are sold off. Unfortunately inspite of the bidding rising to dizzying heights certain slots and circles seem ignored by the bidders.
All in all the delay of the 3G auctions seem to have increased the number of players vying for the spectrum and also the bid amounts. Question now is will this 3G be used for data or voice??