TechinfoWorld » Business http://techinfoworld.com Free Latest IT,Business News Updates and Reviews with Discussion Mon, 03 May 2010 19:14:27 +0000 en hourly 1 http://wordpress.org/?v=3.0 3G Auction in India Closes at Rs.4085cr http://techinfoworld.com/featured/3g-auction-in-india-day2/ http://techinfoworld.com/featured/3g-auction-in-india-day2/#comments Sun, 11 Apr 2010 03:49:15 +0000 admin http://techinfoworld.com/?p=132 The 3G Auction in India conducted at New Delhi, the second day of bidding by nine telecom operators for three slots of pan-India 3G spectrum saw a closing price of Rs 4,085 crore for all circles, up from Rs 3,980 crore on Friday. The auction opened at a reserve price of Rs 3,500 crore.

The percentage increase on Saturday was just 2.63% compared to the 13.71% jump in the price on the first day of bidding.

This translates to total earnings of Rs 16,677 crore from four pan-India 3G operators, up from Rs 15,920 crore on Friday. The fourth operator is BSNL/MTNL, which is not participating in the bid but will pay market price for allocated spectrum as determined through these auctions.

The exercise is expected to raise over Rs 30,000 crore for government and will bring in four to five players into 3G, ensuring adequate competition. For mobile users, 3G will bring in added features like high-speed internet, video, television and other next-generation services.

The Gujarat circle saw maximum demand, triggering a Rs 18.86 crore price increment over the closing price of Rs 377.36 crore for the circle. This means bids will open at Rs 396.22 crore for Gujarat on Monday.

Courtesy and Source: The Times of India

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