FM auction bid price hits ₹1,090 cr

Day 16{+t}{+h} of the first batch of e-auction of Private FM Radio Phase III channels saw provisional winning bid price close at ₹1,090 crore. “At the close of the 16th day of bidding, 92 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about ₹ 1,090 crore against their aggregate reserve price of about ₹451 crore,” the Ministry of Information and Broadcasting said in a statement. So far, 64 rounds of bidding have been completed, four rounds of bidding took place on Monday. Bidding will recommence on Tuesday.