New Delhi : Day seven for E-auction of the first batch of private FM radio Phase III channels re-commenced yesterday at 9.30 am. During the day, four rounds of bidding took place.
So far 28 rounds of overall bidding were completed and at the end of the seventh day of bidding, 83 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of around Rs 827 crore, against their aggregate reserve price of about Rs 395 crore.
The sum of provisional winning prices exceeding the total reserve price of the first batch of FM Phase III auction was around Rs 277.05 crore or 50.35%. Rs 550.18 crore is the total reserve price of the first batch.
The auction for the first batch comprising 135 FM channels in 69 existing cities of Phase II began on July 27, 2015.
The Auction Activity Requirement of 80 per cent set at the beginning of the auction continued to remain the same on the seventh day.
Bidding for Day 8 of FM Phase III auction will re-commence today at 9.30 am.