Wednesday, 5 August 2015

FM Phase III auction Day 8: Rs 869 crore bid for 83 channels

E-Auction of the First Batch of Private FM Radio Phase III Channels re-commenced today on 05th August 2015 at 09.30 A.M. and during the day, four rounds of bidding took place. Till now, 32 rounds of bidding are over.
At the close of the eighth day of bidding, 83 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of around Rs 869 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 319.11 Crore or 58%.  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 27th July 2015.
The Auction Activity Requirement of 80% set at the beginning of the auction continued to remain the same on the eighth day. Daily auction report for day 8 has been put on MIB website, www.mib.nic.in. Bidding will re-commence on 6th August, 2015 at 09.30 AM.
The following Table summarizes first eight days of bidding:
Sourcehttp://cablequest.org/index.php/news/national-news/item/7629-fm-phase-iii-auction-day-8-rs-869-crore-bid-for-83-channels

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