In March 2013, Indian telecommunications regulator TRAI conducted an auction of 1800MHz spectrum in four of its national ‘circles’ as well as 900MHz spectrum in three circles and 850MHz spectrum as a pan-Indian licence. Industry response to the offering was poor, as the reserve prices were deemed to be very high given the nature of the market, with its low consumer tariffs. Reserve prices for the 900MHz lots were set at twice the reserve prices of the 1800MHz spectrum in the same circles, for example. In the end, the auction attracted only one bidder, MTS, which secured 850MHz spectrum for just eight of the 22 service areas.