India 3G Auction: Day 5

4:50 PM -- At the completion of the fifth day of the auction, the price of a pan-India license reached INR48.3 billion (US$1.09 billion), about 38 percent more than the base price of INR35 billion ($792 million).

The state of Gujarat recorded the highest bid of INR4.88 billion ($109.79 million). Gujarat is followed by Delhi, which recorded the bid of INR46.5 billion ($104.567 million).

The auction is likely to go on for sometime, and the Government is looking at raising $10 billion from the auction.

The 3G auction will be followed by BWA auction. While nine companies are bidding for 3G auction (six are bidding for pan-India license), 11 companies are bidding for BWA auction.

For full coverage of the Day 5 details click here.

— Gagandeep Kaur, India Editor, Light Reading

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