UP (East) gets bids 60% more than reserve price

Uttar Pradesh (East) has emerged a star in the 3G (third generation) telecom auction, with its bid price over 60% more than the reserve price at end of Day 5 of bidding. The B circle centre’s showing is even more impressive than the top grosser, Gujarat, which has grown a little more than 50% over the reserve price.

Gujarat maintained its lead in the 3G auction on Thursday, with its winning price at Rs487.76 crore, up 52.4% over the Rs320 crore reserve price for metros (except Kolkata) and the A circle. While Delhi continued in the second position with a provisional winning bid price of Rs464.54 crore, up 45.1% from the base price, Mumbai was still at the bottom of the A circle list at Rs442.39 crore. Mumbai’s highest bid price is 38.2% more than the reserve price, after 28 rounds of bidding.

The maximum pan-India bid price on Thursday touched Rs4,831.09 crore, which is 38.03% more than the reserve price of Rs3,500 crore. Also, the maximum bid price of Day 5 was 5.4% higher than the previous day’s figure of Rs4,582.52 crore.

In the A circle, after Gujarat and Delhi were Tamil Nadu (Rs455.78 crore), Maharashtra (Rs451.27 crore), Andhra Pradesh (Rs451.27 crore), Karnataka (Rs442.39 crore) and Mumbai.

The B circle saw similar rankings as the previous day, with Uttar Pradesh (East) on the top with Rs193.42 crore, 61.18% higher than the reserve price for the circle at Rs120 crore. Rajasthan was second at Rs184.91 crore, followed by Madhya Pradesh at Rs172.80 crore, Kerala at Rs169.14 crore, UP West at Rs167.47 crore, Kolkata at Rs162.56 crore, Haryana at Rs151.66 crore, Punjab at Rs127.36 crore and West Bengal at Rs123.63 crore.

In the C circle, Bihar was at the top with Rs32.44 crore, the same as the previous day. The remaining regions in C Circle were at Rs30 crore each, which is the reserve price in C circle.