Phase III auction: Cumulative provisional winning price exceeds total reserve price by 79.4%

At the end of Day 12 of bidding, 86 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of Rs 987 crore

BestMediaInfo Bureau | Delhi | August 12, 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, 48 rounds of bidding are over.

At the close of the 12th day of bidding, 86 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of Rs 987 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 86 channels by Rs 562.19 crore or 132.3 per cent. Overall, cumulative provisional winning price exceeded the total reserve price of the first batch, that is, Rs 550.18 crore, by Rs 436.89 crore or 79.4 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. Bidding re-commences today at 9.30 am.

Summary of first 12 days of bidding:

List of cities and clock round price at end of Day 12 of the e-auction:

Click on the image to enlarge.

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