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After 88 rounds of bidding, the cumulative provisional winning price inched towards ₹1,136.6 crore at the e-auction of private FM radio of phase III channels.
The Ministry of Information & Broadcasting said 94 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about ₹1,136.6 crore against their aggregate reserve price of about ₹459 crore.
The auction for the first batch comprising 135 FM Channels in 69 existing cities of Phase II began on July 27. The channel allocation stage will continue till the bids are received for any of the 135 channels and auction will recommence on Thursday, the statement added.
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