India broadband bids at $1.35 bln in opening week | delhi | Hindustan Times
Today in New Delhi, India
Jan 20, 2017-Friday
New Delhi
  • Humidity
  • Wind

India broadband bids at $1.35 bln in opening week

delhi Updated: May 30, 2010 12:11 IST
Highlight Story

India received bids totalling 62.73 billion rupees ($1.35 billion) for one set of nationwide wireless broadband spectrum licences in the first week of an auction, government data showed.

The current auction follows one for third-generation (3G) spectrum that ended on May 19, after 34 days of bidding. The sale fetched 677 billion rupees in revenue for the Indian government, nearly double the total estimated from both 3G and wireless broadband spectrum auctions.

Eleven firms, including India's top three telecoms firms - Bharti Airtel , Reliance Communications and Vodafone Essar - and U.S. chipmaker Qualcomm Inc, are bidding for broadband spectrum.

The auction started on May 24, with a base price for one set of all-India wireless broadband spectrum licence at 17.5 billion rupees. As of Saturday, the bidding had gone 34 rounds over the five days.

Two all-India broadband licences are on offer for private firms, while a third set has been reserved for state-run firms which would have to match the final bid prices.

At the current bid prices, the government could get revenues worth about 188 billion rupees.