Thursday, 6 August 2015

FM Phase III auction Day 9: Rs 900 crore bid for 85 channels

E-Auction of the First Batch of Private FM Radio Phase III Channels re-commenced today on 06th August 2015 at 09.30 A.M. and during the day, four rounds of bidding took place. Till now, 36 rounds of bidding are over.
At the close of the Ninth day of bidding, 85 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of Rs 900 Crore against their aggregate reserve price of about Rs 407 Crore. Thus the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 85 channels by Rs 493.19 Crore or 121.2%. Overall, cumulative provisional winning price exceeded the total reserve price of the first batch by Rs 349.89 Crore or 63.6%.  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 ninth day. Daily auction report for day 9 has been put on MIB website, Bidding will re-commence on 7th August, 2015 at 09.30 AM.
The following Table summarizes first nine days of bidding:

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