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Pan-India 3G auction coming to an end, may cross USD1.6b mark

The auction of the pan-India 3G spectrum has had intense participation from the country’s telecom operators.

At the close of the 20th day of bidding, 116 rounds have already been completed and the spectrum bid stands at INR10,348 crore (INR103.48 billion, USD1.53 billion), up 196 percent from the reserve price of INR3,500 crore (INR35 billion, USD516.7 million).

According to news reports, the 3G auction is expected to finish in the coming days and bids may cross INR11,000 crore (INR110 billion, USD1.6 billion) for the all-India spectrum.