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Day 15 of FM Phase III: 91 channels provisionally win with price of Rs 1079 crore

MUMBAI: On Day 15 of the e-auction of the first batch of private FM radio Phase III channels, bidding in certain cities gained momentum. Also, three more channels were provisionally won, taking the total number to 91 channels in 56 cities.

The cumulative provisional winning price amounted to Rs 1079 crore (Rs 10.79 billion) against their aggregate reserve price of Rs 449 crore (Rs 4.49 billion).

Bengaluru suddenly received a bid today with the provisional winning price of Rs 107.1 crore (Rs 1.07 billion). However, there will be a one per cent price increment applicable for the next clock round.

Chennai, on the other hand, today got no bids. This was probably due to its high reserve price. The provisional winning price for the city reached Rs 53.3 crore (Rs 533 million).

Delhi too received no bids during the day. Kanpur saw increased activity as three players tried to attain the three frequencies available in the city. The provisional winning price for each frequency stood at Rs 8 crore (Rs 80 million).

After yesterday’s five per cent price increment, the provisional winning price for Mumbai rose to Rs 112.4 crore (Rs 1.12 billion). Only two players tried to win the two frequencies.