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FM Phase III auction sees no spike on Day 4

MUMBAI: The response to the e-auction of the second batch of FM Phase III declined considerably, as only three cities received percentage increment for the next round. By the end of the fourth day, as many as 89 out of 92 cities did not see any bidding at all.

Agartala, Aizawl and Itanagar were the only cities that saw some response from the bidders. Agartala and Itanagar each witnessed 5% increment for the next round by grabbing the interest of two bidders for their single frequency. With only one bidder showing an interest in its sole frequency, the percentage price increment for Aizawl was only 1%.

By the end of 16 rounds of bidding, the provisional winning price for Agartala stood at Rs 3.23 million. It was Rs 2.6 million for Itanagar and Rs 1.87 million for Aizawl.

Other cities like Akola, Jhansi and Muzaffarpur, which were seeing some response earlier, failed to attract bidders on the fourth day. Even Hyderabad, which had the highest reserve price set at Rs 18 crore (Rs 180 million) for one frequency, failed to gain positive response. The provisional winning price for the city remained unchanged at Rs 23.43 crore.

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