FM Phase III auction: Cumulative provisional winning price reaches Rs 827 cr

The summation of provisional winning prices exceeded the total reserve price of the first batch by about Rs 277.05 crore or 50.35 per cent at the end of Day 7

BestMediaInfo Bureau | Delhi | August 5, 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, 28 rounds of bidding are over.

At the close of the seventh day of bidding, 83 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of around Rs 827 crore, against their aggregate reserve price of about Rs 395 crore. Thus, the summation of provisional winning prices exceeded the total reserve price of the first batch by about Rs 277.05 crore or 50.35 per cent. Rs 550.18 crore is the total reserve price of the first batch.

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 80 per cent set at the beginning of the auction continued to remain the same on the seventh day. Bidding will re-commence today at 9.30 am.

Summary of first seven days of bidding:

List of cities and clock round price at end of Day 7 of the e-auction:

Click on the image to enlarge.

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