FM Phase III: MIB names 21 pre-qualified bidders for first batch of e-auction

Sun Group is a significant omission from the list of pre-qualified bidders that includes ENIL, HT Media, Next Radio, DB Corp, Music Broadcast, and RBNL, among others

BestMediaInfo Bureau | Delhi | July 16, 2015

The Ministry of Information & Broadcasting (MIB) has unveiled the list of pre-qualified bidders for e-auction of first batch of private FM radio Phase III channels.

Twenty-one players feature in this list, including Entertainment Network (India) Ltd (ENIL), HT Media, Next Radio, DB Corp, Music Broadcast, and Reliance Broadcast Network, among others. However, Sun Group is a significant omission from this list.

These 21 pre-qualified bidders will be able to bid for 130 FM stations across 69 cities and towns.

ENIL has made an earnest money deposit of Rs 800,000,000, the highest amongst these 21 bidders. It is followed by HT Media, which has made an earnest money deposit of Rs 625,000,000 and Reliance Broadcast Network with an earnest money deposit of Rs 500,000,000. The total earnest money from the pre-qualified bidders is more than Rs 250 crore, which is 25 per cent of the initial bidding amount.

As per preliminary calculations, the Government is likely to mop up more than Rs 1,000 crore from the successful bidders of the first batch while it had targeted Rs 500 crore earlier.

Meanwhile, C1 India, e-auctioneer and auction adviser to MIB, has arranged for training of the pre-qualified bidders of first batch of private FM radio

Phase III in Delhi on July 17, 2015. The training will be held in two batches.

The list of first batch of successful bidders is as follows:

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