Indian auction ends with $10B in bids

Indian auction ends with $10B in bids

13 FEB 2014
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India’s spectrum auction has finished after ten days with the final amount pledged by bidders nearing $10 billion, according to Reuters. Identities of the winning companies are not yet known.

Total bids are expected to hit $9.9 billion said the country’s Telecommunications Minister Kapil Sibal, speaking on Indian television – well in excess of initial expectations.

Eight companies have fought hard for the radio frequencies on offer, with the 900 MHz spectrum in Delhi and Mumbai acting as a particularly powerful lure for bidders.

However, interest had started to flag in recent days. There was only excess demand in two circles – Assam and Madhya Pradesh – on Wednesday (day nine).

As well as being arguably the country’s two most attractive markets, Bharti Airtel and Vodafone were keen bidders for 900 MHz frequencies in Delhi and Mumbai. Their licences are set to expire later this year.

The other 900 MHz frequencies on offer were in Kolkata.

Bidders were also eager for 1800 MHz frequencies in Delhi and Mumbai, although bids were not as high as those for 900 MHz. Frequencies in the states of Gujarat, Maharashtra and Tamil Nadu also proved popular among 1800 MHz bidders.

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Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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