New Delhi : The cumulative provisional winning price in the e-auction of first batch of Phase III FM auctions crossed Rs 1000 crore Yesterday, the Information and Broadcasting ministry said.
In a statement released Yesterday, the ministry said that four rounds of bidding took place.
“At the end of the 13th day of the Phase III FM auctions, the cumulative provisional winning price crossed Rs 1000 crore,” the ministry said.
It added that till now, 52 rounds of bidding are over. At the close of the day, 87 channels in 56 cities became provisional winning channels with cumulative provisional winning price of Rs 1005 crore against their aggregate reserve price of about Rs 425 crore.
The summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 87 channels by Rs 580.23 crore or 136.5 per cent.
Overall, cumulative provisional winning price exceeded the total reserve price of the first batch that is Rs 550.18 crore by Rs 455.08 crore or 82.7 per cent, the ministry added.