Provisional winning bid prices cumulatively closed at ₹946 crore at the end of tenth day of the e-auction of the first batch of private FM radio phase-III channels.

Bengaluru became the second city after New Delhi to fetch bid price of over ₹ 100 crore.

Reserve price

In a statement, Ministry of Information & Broadcasting said, “At the close of the tenth day of bidding, 86 channels in 56 cities became provisional winners of channels with cumulative winning price of ₹946 crore against their aggregate reserve price of about ₹425 crore.”

Provisional price

This is also nearly 72 per cent higher than the total aggregate reserve price of the first batch of the 135 radio channels, which was set at ₹550.18 crore. “At the end of the day, provisional winning price of one channel in Bengaluru reached ₹104.99 crore. In Delhi, the provisional winning price of one channel reached ₹144.27 crore,” the official statement added.

So far 40 rounds of bidding have been completed. Four rounds of biddings took place on Friday.

Bidding will recommence on August 10.

Requirement increased

Also, the auction activity requirement of 80 per cent set at the beginning of the auction was changed after round 37 and was increased to 90 per cent, the statement added.

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