Bids for 3G spectrum licenses in India's biggest markets are approaching $1 billion apiece just three days into the two-week auction.
Bidders vying for spectrum in the Delhi and Gujarat markets rose the auction price to 41.6 billion rupees each, or $935.7 million. The Maharashtra, Andhra Pradesh and Tamil Nadu markets came in next with bids around $908.9 million.
Following that came bids for Karnataka and Mumbai for $891 million and $882 million, respectively.
India began auctioning off its 3G spectrum on Friday. The country's Department on Telecommunications has not disclosed which companies are bidding.
India's major players are taking part in the auction, including carriers Bharti Airtel and Aircell.
India's mobile broadband auction is slated to begin two days after the close of the country's 3G auction, which could take weeks to finish because Indian officials have not set an official end date for the 3G auction.