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At the end of the eighth day of the e-auction of the first batch of private FM Radio Phase III channels, provisional winning bids touched the ₹ 869 crore mark.
In a statement, the Ministry of Information & Broadcasting said, “ At the close of the eighth day of bidding, 83 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of around ₹ 869 crore against their aggregate reserve price of about ₹ 395 crore.” Thus the cumulative provisionally winning price was nearly 58 per cent or ₹ 319.11 crore higher than the total reserve price of the first batch.
The total reserve price of the 135 radio frequencies stood at ₹550.18 crore. The Auction for the first batch comprising 135 FM Channels in 69 existing cities of Phase II began on July 27. Bidding will resume on Thursday. Till now 32 rounds of bidding are over and four rounds of bidding took place on Wednesday.
At the end of Wednesday, provisional winning price for Delhi closed at ₹133.23 crore, compared to the reserve price of ₹ 31.42 crore. Bengaluru’s provisional winning bid price closed at ₹98.02 crore against the reserve price set at ₹ 21.60 crore. Mumbai’s bid price closed at ₹ 89.58 crore against the reserve price set at ₹ 35.2 crore.
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