Bids rose on the second day of India's multi-billion dollar third-generation (3G) auction,with one provisional winning bid for national cover touching 40.85 billion rupees ($922 million),or about a 17 percent premium to the base price,government data showed. A total of 10 rounds of bidding had been completed by Saturday,India's Department of Telecommunications said on its website,without disclosing which company had bid how much. The widely-watched auction started on Friday and the multiple-round bidding process is expected to take about two weeks to complete,officials have said. On the first day,bids were at about a 12 percent premium to the base price of 35 billion rupees for all-India spectrum. There is no bidding on Sunday. The auction resumes on Monday.
