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By the end of the fourth day of bidding for private FM radio phase-III channels at the e-auction, the provisional winning price surpassed the aggregate reserve price of all the 135 FM radio channels, which were put on offer.
Eighty channels in 55 cities became provisional winners with cumulative winning price of around ₹643 crore against their aggregate reserve price of about ₹391 crore, said a statement from the Ministry of Information and Broadcasting.
The Government was expecting to earn over ₹550 crore from the first batch of the e-auction.
On July 29, the provisional winning price of 80 channels in 55 cities stood at ₹549 crore against their aggregate reserve price of ₹377 crore.
So far, 16 rounds of bidding have been completed. The e-auction, which is for the 135 radio channels in 69 cities of Phase II, began on July 27 and has been seeing four rounds of bidding each day.
The provisional winning price at the end of round 16 of Delhi went up to ₹86.57 crore, while for Mumbai it closed at ₹81.90 crore. The reserve price for Delhi was ₹31.42 crore, while for Mumbai it was ₹35.2 crore.
Excess demand was seen in cities such as Ahmedabad, Aurangabad, Bengaluru, Bhubaneshwar, Chennai, Delhi, Guwahati, Jaipur, Kolhapur,Nagpur, Nasik ,Patna, Pune and Rourkela at the end of 16 rounds of bidding.
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