FM e-auction: 96 channels become provisional winners

At the close of the 28th day of bidding for the phase III of e-auctions for the first batch of channels under the private radio FM Phase III expansion, 96 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1,156.2 crore.
An official statement by the Information and Broadcasting Ministry which is conducting these auctions said the aggregate reserve price of these channels was about Rs 459.5 crore.
"Thereby the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 96 channels by Rs 696.7 Crore or 151.6 per cent. Overall, cumulative provisional winning price exceeded the total reserve price of the first batch ie Rs 550.18 crore by Rs 606 crore or 110.1 per cent," the statement added.

E-Auction of the first batch of private FM radio Phase III channels re-commenced today and during the day, four rounds of bidding took place. Till now, 112 rounds of bidding have been completed, the statement said.
The auction for the first batch comprising 135 FM Channels in 69 existing cities of Phase II began on July 27, 2015.