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At the end of the seventh day of the e-auction of the Private FM Radio Phase III channels, 83 channels in 56 cities became provisional winners with cumulative provisional winning price of ₹827 crore. The aggregate reserve price for these channels stood at ₹395 crore. The ongoing e-auction for the first batch is for 135 FM Channels in 69 cities.
“Thus, the summation of provisional winning prices exceeded the total reserve price of the first batch by about ₹277.05 crore or 50.35 per cent,” the Ministry of Information & Broadcasting said in a statement. The total reserve price of of radio channels being auctioned in the first batch is about ₹550.18 crore. So far, 28 rounds of bidding have been completed and on Tuesday four rounds of bidding took place.
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