20 Oct 2017
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Day 22 of FM Phase III: No new channels provisionally won for 5th consecutive day

MUMBAI: As the e-auction of the first batch of private FM radio frequencies completed 22 days, the bidding once again slowed down with no new channels provisionally won for five consecutive days.

Eighty-eight rounds of bidding were completed at the end of Day 22, with four rounds having been held during the day.

During the day, bidding was seen only in the cities of Guwahati, Jodhpur, Shillong, and Varanasi.

Guwahati received one bid for its single available frequency as its provisional winning price went up to Rs 3.2 crore.

Meanwhile, Jodhpur continued to see heightened activity as it got two bids for the single available frequency in the city. Its provisional winning price rose to Rs 5.1 crore and is further expected to see a five per cent increment applicable for the next clock round.

While Shillong got the interest of two players for its two frequencies, Varanasi again witnessed some competition with two players fighting it out for its lone frequency. The provisional winning price of Varanasi went up to Rs 6.8 crore and will further see a five per cent price increment applicable for the next clock round.

At the close of the 22nd day of bidding, there were 94 provisionally winning channels in 56 cities with cumulative provisional winning price of about Rs 1,136.6 crore against their aggregate reserve price of about Rs 459 crore.

Thus, the sum of the provisional winning prices exceeded the cumulative reserve price of the corresponding 94 channels by Rs 677.7 crore (147.7%). Overall, the cumulative provisional winning price exceeded the total reserve price of Rs 550.18 crore by Rs 586.4 crore (106.5%).

The channel allocation stage will continue until there are bids for any of the 135 channels.

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