How Could Airtel Bid in 2015 Spectrum Auction

[wiredlife]

We Discuss Various Bid Scenarios in which Airtel could Bid in the Mega 2015 Spectrum Auction.

Scenario - 1
Renews all 900 spectrum for c INR 100bn.
We see company spending cINR20bn for 1,800MHz spectrum.3G wallet/budget estimated at INR100bn for 3G and preference will be adding 3G coverage in Maharashtra, Gujarat, Madhya Pradesh and capacity in Delhi.

Scenario - 2
Renews all existing 900 and attempts for additional 900 of competition in markets such as Madhya Pradesh. 900 renewal pay-out estimated at INR130bn
Left with at least INR 70bn for 3G and preference will be adding 3G coverage in Maharashtra and Gujarat or adding capacity in Delhi. In
addition we see the company spending cINR20bn for 1800 spectrum.