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Day 18 of FM Phase III: Bidding intensifies in smaller towns in last phase

MUMBAI: As the e-auction of the first batch of FM radio frequencies enters its final phase, the bidding has intensified in smaller towns.

The cities that saw aggressive bidding during the day were Allahabad, Guwahati, Nashik, Shillong and Varanasi. All these cities will see a five per cent price increment applicable for the next clock round on their provisional winning prices.

Allahabad received three bids for two frequencies and its provisional winning price soared to Rs 2.5 crore (Rs 25 million).

Interest increased for frequencies in North East in cities like Guwahati and Shillong. Guwahati got two bids while Shillong got three, up from what they had been receiving in the previous days of the auctions. The provisional winning price for Guwahati went up to Rs 1.9 crore (Rs 19 million), while Shillong’s stood at Rs 2.35 million.

Aggressive bidding continued in Nashik and Varanasi. Nashik continued to receive three bids. Varanasi saw the interest of one more player today, taking its total bids received to three. The provisional winning price for Nashik stood at Rs 13.2 crore (Rs 132 million), while Varanasi jumped to Rs 3.3 crore (Rs 33 million).

72 rounds of bidding were completed at the end of Day 18, with four rounds being held during the day.

At the close of the 18th day of bidding, 94 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1123 crore (Rs 11.23 billion) against their aggregate reserve price of about Rs 459 crore (Rs 4.59 billion).

Thus, the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 94 channels by Rs 664 crore (Rs 6.64 billion), or 144.7 per cent. Overall, the cumulative provisional winning price exceeded the Rs 550.18 crore (Rs 5.5 billion) total reserve price of the first batch by Rs 572.68 crore (Rs 5.73 billion), or 104 per cent.

The Auction Activity Requirement (AAR) is 100 per cent and the channel allocation stage will continue till the bids are received for any of the 135 channels.

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