FM Phase III auction: Cumulative provisional winning price crosses Rs 900 cr

Overall, the cumulative provisional winning price exceeded the total reserve price of the first batch by Rs 349.89 crore or 63.6 per cent. Rs 550.18 crore is the total reserve price of the first batch

BestMediaInfo Bureau | Delhi | August 7, 2015

E-auction of the first batch of private FM radio Phase III channels re-commenced yesterday at 9.30 am. During the day, four rounds of bidding took place. Till now, 36 rounds of bidding are over.

At the close of the ninth day of bidding, 85 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of Rs 900 crore, against their aggregate reserve price of about Rs 407 crore. Thus, the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 85 channels by Rs 493.19 crore or 121.2 per cent. Overall, the cumulative provisional winning price exceeded the total reserve price of the first batch by Rs 349.89 crore or 63.6 per cent. Rs 550.18 crore is the total reserve price of the first batch.

The auction for the first batch comprising 135 FM channels in 69 existing cities of Phase II began on July 27, 2015.

The Auction Activity Requirement of 80 per cent set at the beginning of the auction continued to remain the same on the ninth day. Bidding will re-commence today at 9.30 am.

Summary of first nine days of bidding:

List of cities and clock round price at end of Day 9 of the e-auction:

Click on the image to enlarge.

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