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FM Phase III e-auction continues to see poor response on Day 2

MUMBAI: Even on the second day of the e-auction of FM radio frequencies, bidders’ response continued to be lukewarm.

The city of Hyderabad, which had the highest reserve price set at 18 crore (Rs 180 million) for one frequency, opened the bid at Rs 23.43 crore on Day 2, and by the end of bidding, there was no change in the competitive winning bid. The city witnessed 11% of growth in its opening bid compared to Day 1, which was Rs 20.83 crore (Rs 200.83 million). Unlike the first day, the metro city grabbed the attention of only one player, and the percentage price increment applicable for the next clock round for Hyderabad is only 1%.

Other cities such as Jhansi and Muzaffarpur witnessed one percentage price increment applicable for the next clock round.

By the end of the eight rounds, North-eastern cities such as Agartala, Aizwal and Itanagar witnessed 5% increment for the next round. On Day 2, the provisional winning price for Agartala went up to Rs 2.28 million, as it continued to see interest from three players for its single frequency.

Aizwal (J&K, NE & IT) grabbed the interest of two players for its single frequency with its provisional wining price increasing to Rs 1.32 million.

The provisional winning price for Itanagar went to Rs 1.83 million from the first day’s Rs 1.51 million. The city continued to grab the attention of three players for its single frequencies.

Akola’s winning price on the second day reached Rs 3.43 million, with two players bidding for single frequency and the percentage price increment applicable for the next clock round is 5%.

At the end of the day, 52 out of 92 cities did not see any bidding even on the second day of the e-auction.

Click here Report for day two of e-auction

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