Phase III auction: Cumulative provisional winning price becomes more than double the reserve price

At the close of Day 17 of bidding, 93 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1,116 crore

BestMediaInfo Bureau | Delhi | August 19, 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, 68 rounds of bidding are over.

At the close of the 17^th day of bidding, 93 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1,116 crore, against their aggregate reserve price of about Rs 458 crore. Thus the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 93 channels by Rs 657.59 crore or 143.5 per cent. Overall, cumulative provisional winning price became more than double the reserve price of the entire first batch. It exceeded the total reserve price of the first batch, that is, Rs 550.18 crore, by Rs 565.66 crore or 102.8 per cent.

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 (AAR) is 100 per cent. It was increased from 90 per cent after 59th round on August 14, 2015. The channel allocation stage will continue till the bids are received for any of the 135 channels.

Bidding re-commences today at 9.30 am.

Summary of first 17 days of bidding:

List of cities and clock round price at end of Day 17 of the e-auction:

Click on the image to enlarge.

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