15 Dec 2017
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Day 26 of FM Phase III: After 104 rounds, winning price is Rs 1151.6 cr

MUMBAI: The e-auction of the first batch of private FM radio Phase III frequencies seems to be dragging on with bidding activity now seen mainly in two to three cities. Moreover, no new channels have been won for the eighth consecutive day.

104 rounds of bidding were completed at the end of Day 26, with four rounds being held during the day.

Ahmedanagar suddenly saw some activity with two players eyeing the two frequencies available in the city. While Guwahati saw no bidding during the day, it also slowed down in Jodhpur, where one player showed interest in the lone frequency available in the city.

However, Jodhpur managed to cross the Rs 10-crore mark and the single frequency up for grabs in the city saw a provisional winning price of Rs 10.7 crore at the end of the 26th day.

The bidding heated up in the North Eastern state of Shillong as it crossed the Rs 50 lakh threshold with a provisional winning price of Rs 53.1 lakh. Three players continued to battle it out for the two frequencies available in the city.

Another city to witness increased activity was Varanasi whose provisional winning price reached Rs 14.9 crore. Two players have been trying to grab the lone frequency available in the city.

Both Shillong and Varanasi will see a five per cent price increment applicable for the next clock round, which is expected to take the prices up further.

At the close of the 26th day of bidding, 94 channels in 56 cities remained provisionally winning with cumulative winning price of about Rs 1,151.6 crore against their aggregate reserve price of about Rs 459 crore.

Therefore, the sum of provisional winning prices surpassed the cumulative reserve price of the corresponding 94 channels by Rs 692.7 crore, or 150.9 per cent. Overall, the cumulative provisional winning price exceeded the first batch’s total reserve price of Rs 550.18 crore by Rs 601.4 crore, or 109.3 per cent.

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