E-Auction of First Batch of Private FM Radio Phase III Channels Continues; 64 Rounds of Bidding Completed at the End of Day 16

New Delhi: E-Auction of the First Batch of Private FM Radio Phase III Channels re-commenced today on 17th August 2015 and during the day, four rounds of bidding took place. Till now, 64 rounds of bidding are over.

At the close of the 16th day of bidding, 92 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1090 Crore against their aggregate reserve price of about Rs 451 Crore. Thus the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 92 channels by Rs 638.71 Crore or 141.5%. Overall, cumulative provisional winning price exceeded the total reserve price of the first batch i.e. Rs 550.18 Crore by Rs 539.76 Crore or 98.1%.  

The Auction for the first batch comprising 135 FM Channels in 69 existing cities of Phase II began on 27th July 2015.

The Auction Activity Requirement is set at 100%. Daily auction report for day 16 has been put on MIB website, www.mib.nic.in. Bidding will re-commence on 18th August, 2015 at 09.30 AM.

The following Table summarizes first sixteen days of bidding:

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.