New Delhi : By the end of day 24 of bidding on FM Phase III auction for Private FM Radio channels in the first batch, 94 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1143 crore.
In a statement released here, the Union Information and Broadcasting Ministry said the aggregate reserve price of these channels was about Rs 459 crore.
Four rounds of bidding took place yesterday and till now, 96 rounds of bidding are over.
“At the close of the 24th day of bidding, 94 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1143 crore against their aggregate reserve price of about Rs 459 crore.
“Thus the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 94 channels by Rs 684.1 crore or 149.1 per cent,” the ministry said in a statement.
Overall, cumulative provisional winning price exceeded the total reserve price of the first batch that is Rs 550.18 crore by Rs 592.8 crore or 107.7 per cent.
The auction for the first batch comprising 135 FM Channels in 69 existing cities of Phase II began on July 27th, 2015. The channel allocation stage will continue till the bids are received for any of the 135 channels, the ministry said.