New Delhi: The Ministry of Information and Broadcasting has scheduled a pre-bid conference on October 28 ahead of the auction of the third batch of private FM radio phase-III channels.
On October 14, the government invited applications for e-auctions for the allotment of 730 channels across 234 uncovered cities under the third batch of FM Phase-III radio channels.
The pre-bid conference will be held at 11:30 am at PIB Conference Hall, Shastri Bhawan, New Delhi.
In a notification, MIB wrote, “All interested and prospective bidders are requested to attend. A confirmation of attendance may please be sent to fmcell@nic.in.”
Earlier in August, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal for conducting the third batch of e-auctions for 730 channels in 234 new cities with an estimated reserve price of Rs 784.87 crore, under the Private FM Radio Phase III policy.
The last date for submission of applications has been set as November 18, 2024.
The auction will start 4 days after the mock auction and participants are expected to pay the first 25% payment within 5 calendar days, and remaining within 15 calendar days of the close of the auction and notification of successful bidders by the government.
Permission holders for a new FM radio channel in uncovered cities under Batch-III FM Phase-III auction must pay an annual fee of 4% of the channel’s gross revenue for the financial year, excluding Goods and Service Tax (GST).