 "FM radio phase 3 auction rakes in Rs 714 cr in 20 rounds")
The government started the first part of the third FM phase three auction with 135 frequencies in the remaining 69 cities of phase 2.
Till July 31, 20 rounds of bidding have taken place, with cumulative provisional winning price of around Rs 714 crore against their aggregate reserve price of about Rs 391 crore.
Thus far, 80 channels in 55 cities became provisionally winning channels (i.e. have been bid for, successfully). The total reserve price for the first batch is Rs 550.18 crore. Bidding will re-comence on August 3 at 9.30 am.
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