Govt rakes in Rs 48,000 cr by 24th day of 3G auction

The auction of third generation (3G) spectrum, which is expected to close soon, has generated over Rs 48,000 crore for the government on its 24th day. 

According to a senior official in the Department of Telecommunications, “The revenues from 3G auction alone will be over Rs 50,000 crore. The auction is likely to be completed in a day or two, as the demand in some circles is still high.” The Pan-India bid for 3G licence was Rs 12,068.94 crore today, up 244.82 per cent from the base price of Rs 3,500 crore. 

The end of the auction that started on April 9 would set the stage for broadband wireless access (BWA) spectrum auction after a gap of two days. It is likely to generate additional revenues of Rs 10,000-15,000 crore. 

The total revenues from both 3G and BWA is estimated to be in the range of Rs 60,000-65,000 crore, from a fixed budgeted target of Rs 35,000 crore. 

The highest bid price in Mumbai reached Rs 2,128.88 crore, over six times the base price of Rs 320 crore. Delhi’s highest bid reached Rs 2,080.62 crore, again six times rise from the base price of Rs 320 crore. Both Mumbai and Delhi circles have three slots available for auction. On the 24th day, both Mumbai had five bidders, while Delhi had four. 

Mumbai and Delhi were followed by Karnataka with its highest bid at Rs 1,216.47 crore from a base price of 320 crore. It had four bidders today with three slots available for auction. 

A total of 137 clock rounds were completed till the 24th day. The activity requirement for bidders was set to 100 per cent from clock round 132.