Friday, 7 August 2015

FM Phase III auction Day 10: Rs 946 crore bid for 86 channels

E-Auction of the First Batch of Private FM Radio Phase III Channels re-commenced today on 07th August 2015 at 09.30 A.M. and during the day, four rounds of bidding took place. Till now, 40 rounds of bidding are over.
At the close of the tenth day of bidding, 86 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of Rs 946 Crore against their aggregate reserve price of about Rs 425 Crore. Thus the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 86 channels by Rs 521.45 Crore or 122.7%. Overall, cumulative provisional winning price exceeded the total reserve price of the first batch i.e. Rs 550.18 Crore by Rs 396.15 Crore or 72%. 
After Delhi, Bengaluru became the second city to fetch provisional winning price of over Rs 100 Crore for its channel.  At the end of the day, provisional winning price of one channel in Bengaluru reached Rs 104.99 Crore. In Delhi, the provisional winning price of one channel has reached Rs 144.27 Crore.
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 of 80% set at the beginning of the auction was changed after Round No 37 and it was increased to 90%. Daily auction report for day 10 has been put on MIB website, www.mib.nic.in. Bidding will re-commence on 10th August, 2015 (Monday) at 09.30 AM.
The following Table summarizes first ten days of bidding:
Sourcehttp://cablequest.org/index.php/news/national-news/item/7639-fm-phase-iii-auction-day-10-rs-946-crore-bid-for-86-channels

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