E-Auction of First Batch of Private FM Radio Phase III Channels Continues; Cumulative Provisional Winning Price crosses Rs 1000 Crore after 52 Rounds of Bidding at the End of Day 13

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OREANDA-NEWS. August 13, 2015. E-Auction of the First Batch of Private FM Radio Phase III Channels re-commenced today on 12^th August 2015 at 09.30 A.M. and during the day, four rounds of bidding took place. At the end of the 13^th day of bidding, cumulative provisional winning price crossed Rs 1000 Crore. Till now, 52 rounds of bidding are over.

At the close of the day, 87 channels in 56 cities became provisional winning channels with cumulative provisional winning price of Rs 1005 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 87 channels by Rs 580.23 Crore or 136.5%. Overall, cumulative provisional winning price exceeded the total reserve price of the first batch i.e. Rs 550.18 Crore by Rs 455.08 Crore or 82.7%. 

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 13 has been put on MIB website, www.mib.nic.in. Bidding will re-commence on 13^th August, 2015 at 09.30 AM.

       The following Table summarizes first thirteen days of bidding: