Bidding for FM private FM channels, 83 channels provisionally

The Information and Broadcasting ministry today said that at the close of eighth day of bidding in the e-Auction of the first batch of private FM Radio Phase III expansion, 83 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of around Rs 869 crore.
The aggregate reserve price of these channels is about Rs 395 crore, the ministry said.
In a statement released here, the ministry said that four rounds of bidding took place today and till now, 32 rounds of bidding are over.
"At the close of the eighth day of bidding, 83 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of around Rs 869 crore against their aggregate reserve price of about Rs 395 crore.

"Thus the summation of provisional winning prices exceeded the total reserve price of the first batch by about Rs 319.11 crore or 58 percent," it added.
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 27th July and bidding will re-commence tomorrow, the ministry said.