E-auctions: In Mumbai, channel gets provisional winning price

Mumbai has become the third city after Delhi and Bengaluru where a channel has got a provisional winning price of over Rs 100 crore in the ongoing e-auctions for the first batch of private FM radio Phase III channels.
Till now, 56 rounds of bidding are over and at the close of the 14th day of bidding, 88 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1022 crore against their aggregate reserve price of about Rs 426 crore, the Information and Broadcasting Ministry today said.
After Delhi and Bengaluru, Mumbai is the third city to get provisional winning price of over Rs 100 crore, it added.

The two channels in Mumbai were allocated to provisional winning bidders for Rs 100.94 crore apiece.
"At the end of the day's bidding, provisional winning price of Delhi's one channel reached Rs 167.49 crore whereas Bengaluru for its single channel had provisional winning price of Rs 106.04 crore," the ministry added in its statement.
The auction for the first batch comprising 135 FM channels in 69 existing cities of Phase II began on July 27.