Phase III auction: Cumulative provisional winning price exceeds total reserve price by 76%

At the close of the 11th day of bidding, 87 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of Rs 969 crore

BestMediaInfo Bureau | Delhi | August 11, 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, 44 rounds of bidding are over.

At the close of the 11th day of bidding, 87 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of Rs 969 crore, against their aggregate reserve price of about Rs 425 crore. Thus, the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 87 channels by Rs 543.83 crore or 127.9 per cent. Overall, cumulative provisional winning price exceeded the total reserve price of the first batch, that is, Rs 550.18 crore, by Rs 418.68 crore or 76 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 of 90 per cent set after Round No 37 on August 7, 2015 continued to remain the same yesterday. Bidding re-commences today at 9.30 am.

Summary of first 11 days of bidding:

List of cities and clock round price at end of Day 11 of the e-auction:

Click on the image to enlarge.

Info@BestMediaInfo.com

Info@BestMediaInfo.com