E-Auction of First Batch of Private FM Radio Phase III Channels Continues; 48 Rounds of Bidding Completed at the End of Day 12

OREANDA-NEWS. August 12, 2015. E-Auction of the First Batch of Private FM Radio Phase III Channels re-commenced today on 11^th August 2015 at 09.30 A.M. and during the day, four rounds of bidding took place. Till now, 48 rounds of bidding are over.

At the close of the twelfth day of bidding, 86 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of Rs 987 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 562.19 Crore or 132.3%. Overall, cumulative provisional winning price exceeded the total reserve price of the first batch i.e. Rs 550.18 Crore by Rs 436.89 Crore or 79.4%.  

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

The Auction Activity Requirement of 90% set after Round No 37 on 07.08.2015 continued to remain the same today. Daily auction report for day 12 has been put on MIB website, www.mib.nic.in. Bidding will re-commence on 12^th August, 2015 at 09.30 AM.

The following Table summarizes first twelve days of bidding: