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By Aman Shah
MUMBAI/NEW DELHI, March 26 (Reuters) - India's top threemobile phone network operators have spent a combined $13.6billion in a government auction of airwaves to secure almost 80percent of the spectrum on offer, reinforcing their positions inthe world's second-biggest mobile market.
The heavy bidding reflects their confidence in the potentialfor data traffic in the world's fastest growing smartphonemarket, while also stoking concerns about debt levels in anindustry which is already among the most leveraged in Asia.
"The outcome of this auction ... will eventually lead to asignificant outflow of funds and further burden the industry,which already remains under a debt of 2.5 trillion rupees ($39.8billion)," Cellular Operators Association of India said in astatement.
Altogether India raised $17.6 billion in the auction after19 days of fierce bidding, of which the government expects toreceive about 288.72 billion rupees ($4.6 billion) in initialpayments, telecoms minister Ravi Shankar Prasad said onThursday.
Idea Cellular, the country's third-biggest mobileoperator by market share, spent 303.06 billion rupees in theauction, the single biggest amount spent.
Market leader Bharti Airtel paid 293.10 billionrupees, while Vodafone India spent 259.59 billionrupees, according to figures provided by the minister.
Auction revenues are much needed by the government to helpit meet an ambitious budget target. The winners have until April4 to make the upfront payment.
"I would very earnestly appeal to the companies thatnational revenue is equally important for growth and India'simage," the minister said, appealing to winning bidders tosubmit initial payments before the current fiscal year ends onMarch 31.
Earlier on Thursday the country's top court allowed thegovernment to announce the auction results, but said frequencyallocations could not be made until it rules on complaints overthe sale mechanisms.
For India's wireless carriers the auction is the only way torenew 20-year network licences and build the extra capacityneeded to cope with the growing data traffic as more Indians usemobile phones to go online.
However, the operators also face increased competition fromcash-rich conglomerate Reliance Industries Ltd's telecoms unit, which is widely expected to launch 4G mobilebroadband services this year.
The unit, Reliance Jio, spent 100.77 billion rupees in theauction.
The high prices paid by network operators in the auction,more than a third over the government's expectations, is likelyto help the larger companies strengthen their positions andcould lead to further consolidation in the market, analystssaid. ($1 = 62.7200 Indian rupees)($1 = 62.8288 Indian rupees) (Additional reporting by Tommy Wilkes and Suchitra Mohanty inNew Delhi; Editing by Rafael Nam, Susan Thomas and Greg Mahlich)
