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Day 5 of FM Phase III: Provisional winning price for Delhi crosses Rs 100 cr

MUMBAI: Taking the competition a notch higher and beating everyone’s expectations, the lone frequency available in the national capital became a big catch as its provisional winning price crossed Rs 100 crore (Rs 1 billion) at the end of the fifth day of bidding.

The single frequency in Delhi received two bids and got a provisional winning price of Rs 105.23 crore (Rs 1.05 billion) at the end of the 20th round , which is more than three times its reserve price of Rs 31.42 crore (Rs 314.2 million).

At the close of the fifth day of bidding which saw four clock rounds, 80 channels in 55 cities became provisionally winning channels with cumulative provisional winning price of around Rs 714 crore (Rs 7.14 bilion) against their aggregate reserve price of about Rs 391 crore (Rs 3.91 billion). Thus, the summation of provisional winning prices exceeded the total reserve price of the first batch by about Rs 163.48 crore (Rs 1.63 billion) or 29.71 per cent. The total reserve price of the first batch is Rs 550.18 crore (Rs 5.5 billion).

Meanwhile, Mumbai’s reserve price rose to Rs 82.7 crore (Rs 827 million) as it received two bids, compared to one bid yesterday. There will be a one per cent price increment applicable for the next clock round for the city.

As the reserve price for Ahmedabad too rose to Rs 30 crore (Rs 300 million), the aggregate demand came down from four to two.

However, in the cities of Bengaluru and Bhubaneswar, the competition continued as the cities received three and five bids respectively. The provisional winning price for Bengaluru reached Rs 54.5 crore (Rs 545 million), while for Bhubaneswar it was Rs 2.8 crore (Rs 28 million).

Incidentally, Chennai received only one bid today. Its provisional winning price scaled up to Rs 29.8 crore (Rs 298 million).

Guwahati continued to see increased interest from radio players, as the single frequency in the city attracted three bids taking its reserve price up to Rs 95.5 lakh (Rs 9.55 million).

Like yesterday, the bidding intensified in Kolhapur as its two available frequencies saw four players vying for them. The provisional winning price of the city went up to Rs 6 crore (Rs 60 million).

The same was the case for Nagpur and Nashik, each of which continued to generate interest from three players, taking its provisional winning price to Rs 7 crore (Rs 70 million) and Rs 6 crore (Rs 60 million) respectively.

Competition continued in Patna as it received five bids and its provisional winning price went to Rs 11.9 crore (Rs 119 million).

However, there were only two bids in Pune compared to three yesterday, even as the city’s provisional winning price stood at Rs 31.4 crore (Rs 314 million).

The auction for the first batch comprising 135 FM channels in 69 existing cities of Phase II began on 27 July 2015.

The auction activity requirement of 80 per cent set at the beginning of the auction remained the same on the fifth day. Bidding will now re-commence on 3 August at 9:30 am.