Phase III: Mumbai leads with Rs 41.9 crore bid at end of Day 1

Mumbai and Delhi showed the highest bids as the day closed with 4 rounds of bidding on the first day of the Phase III auctions

e4m by Abhinn Shreshtha
Updated: Jul 28, 2015 8:12 AM
Phase III: Mumbai leads with Rs 41.9 crore bid at end of Day 1

The first day of the initial round of Phase III auctions ended today with intense bidding for metros and cities like Ahmedabad, Pune and Lucknow.

Unsurprisingly, Mumbai and Delhi were the most hotly contested with Mumbai receiving the highest bid amount at the end of the day of close to Rs 42 crore. With just two frequencies available, the city had received 6 bids in 4 rounds of bidding.

This was followed by Delhi, which saw a provisional winning bid amount of Rs 37 crore (approx) at the end of round 4. As expected, 5 bids were received for the solitary frequency available in the city.

In the south, Bangalore also saw some interest with a total of 3 bids for its single frequency. The provisional winning bid at the end of the day stood at Rs 25 crore (approx).

Hyderabad received just a single bid of Rs 18 crore for its 4 frequencies. Chennai also saw multiple bids (3) for its single frequency with the highest bid at around Rs 14 crore. 

Other cities that saw big money bids included Pune, which received 3 bids for its 2 frequencies, with the highest bid amount being just above Rs 16 crore. Lucknow, too received just a single bid of Rs 14 crore so for its 3 frequencies.

In the east, the single frequency available in Bhubaneshwar was also in demand with 5 bids having been received and the highest bid amount just under Rs 1 crore. Other cities like Shillong and Siliguri failed to entice any interest. However, Guwahati saw a total of 3 bids for its solitary frequency, with the largest bid amount around Rs 47 lakh.

It should be noted that these are not final winning bids by just ‘provisional’ winning bids. So, operators have a chance to come out with higher bids tomorrow when the auctions continue into Day 2.


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