7:40 AM -- After seven days of bidding in India's 3G spectrum auction, Delhi has replaced Gujarat as the most valuable circle license, while the value of a pan-Indian 3G license covering all 22 circles (service areas) reached 57.1 billion Indian rupees (US$1.28 billion).

When the auction closed Saturday, the price of a Delhi 3G license had risen to INR6.26 billion ($140 million), with Mumbai attracting the second highest bid of INR5.99 billion ($134 million).

Only a few days earlier, Gujarat, known for its wealthy traders, had attracted the highest bid. (See India 3G Auction: Day 5.)

Currently, though, its provisional winning bid stands at INR5.33 billion ($119 million), the fourth highest. The Tamil Nadu circle currently commands the third highest price, at INR5.49 billion ($123 million). (For a map of India's circles, see A Guide to India's Telecom Market.)

Full details of the Day 7 closing prices can be found at the Department of Telecommunications Website.

The Indian government is hoping to raise more than $10 billion from the sale of 3G and BWA (broadband wireless access) spectrum. (See India 3G: And They're Off!, India Watch: The Road to 3G, and Bids Flood In for India's Spectrum Auctions.)

— Ray Le Maistre, International Managing Editor, Light Reading