The bids seem to be going higher and higher each day as the 3G aution unfolds in the country. At the end of day 14 Mumbai had overtaken Delhi with the bids reaching a total of Rs 1,252 crore for Mumbai vis a vis Rs 1,209 crore for Delhi. This is almost 4 times the original base price of both these cities which is pegged at 320 crore.
As stated earlier the bids are surely going to make the Government a cool sum of Rs 33,528 crore but thats again assumming all the available 3G slots across all circles are lapped up by operators. Many of the slots are yet to be taken.
The word is out that after 82 rounds of auctioning it will still be a week more till the final auctions are complete which could mean that the prices could be higher than what they are right now. The auction bids have already reached dizzying heights as blogged by us yesterday and if this continues then in some cases the total spend for some operators could be more than Rs 9,000 crore for a pan-Indian 3G spectrum which many analysts feel would be very expensive.
