22 Sep 2017
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Day 29 of FM Phase III: Number of provisional winning channels rises to 97

MUMBAI: With the bidding slowing down every day and radio players awaiting the end of the auctions, the number of provisional winning channels continued to rise as one more channel was won at the end of the 29th day.

The e-auction of the first batch of private FM radio Phase III channels continued with 116 rounds of bidding completed at the end of Day 29 with four rounds during the day.

At the end of the day’s bidding, one more channel became provisionally winning, taking the total number of channels to 97 in 56 cities. The cumulative provisional winning price stood at Rs 1,156.6 crore against their aggregate reserve price of about Rs 459.8 crore.

Thus, the sum of the provisional winning prices surpassed the cumulative reserve price of the corresponding 97 channels by Rs 696.7 crore or 151.5 per cent. Overall, the cumulative provisional winning price exceeded the total reserve price of the first batch of Rs 550.18 crore by Rs 606.4 crore or 110.2 per cent.

During the day, bidding heated up in Bareilly as three players bid for the two available frequencies in the city. The provisional winning price of the city now stands at Rs 38.8 lakh and will see a further five per cent price increment in the next bidding round.

The only other city to witness some action during the day was Jalgaon in Madhya Pradesh. With two radio players bidding for its two available frequencies, Jalgaon’s provisional winning price touched Rs 36.5 lakh.

No other city saw any bidding activity during the day, which further slowed down the auctions.

The channel allocation stage will continue until no bids are received for any of the 135 channels.