Phase III auction: Mumbai becomes 3rd city to get provisional winning price of over Rs 100 cr

The two channels in Mumbai were allocated to provisional winning bidders for Rs 100.94 crore each

BestMediaInfo Bureau | Delhi | August 14, 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, 56 rounds of bidding are over.

At the close of the 14th day of bidding, 88 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1,022 crore, against their aggregate reserve price of about Rs 426 crore. Thus, the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 88 channels by Rs 596.61 crore or 140.1 per cent. Overall, cumulative provisional winning price exceeded the total reserve price of the first batch, that is, Rs 550.18 crore, by Rs 472.08 crore or 85.8 per cent.

After Delhi and Bangalore, Mumbai became the third city to get provisional winning price of over Rs 100 crore. The two channels in Mumbai were allocated to provisional winning bidders for Rs 100.94 crore apiece. At the end of the day's bidding, provisional winning price of Delhi's one channel reached Rs 167.49 crore, whereas Bangalore its single channel had provisional wining price of Rs 106.04 crore.

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 14 days of bidding:

List of cities and clock round price at end of Day 14 of the e-auction:

Click on the image to enlarge.

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