FM e-auction: Channel allocation of first batch ends

The channel allocation stage of e-Auction of the first batch of Private FM Radio Phase III channels ended today with cumulative provisional winning price for 97 channels in 56 cities touching a figure of about Rs 1,156.9 crore.
The e-auction of the first batch of FM Phase III comprising 135 channels in 69 existing cities of Phase II had commenced on 27th July and over 32 days 125 rounds of bidding took place.
"At the end of the channel allocation stage, 97 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1,156.9 crore against their aggregate reserve price of about Rs 459.8 crore," the Information and Broadcasting ministry said in a statement here.

It added that the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 97 channels by Rs 697.05 crore or 151.58 per cent.
"Overall, cumulative provisional winning price exceeded the total reserve price of the first batch i.E. Rs 550.18 crore by Rs 606.72 crore or 110.27 per cent," it added.
Over 71 per cent channels of the first batch were provisionally won by bidders. However, there were other channels which were not picked up by the bidding companies.

Value-wise, cities of Delhi, Mumbai and Bengaluru got provisional winning prices of over Rs 100 crore for their channels.

Delhi with Rs 169.16 crore for its single channel got the highest provisional wining price of the entire batch. Mumbai for its two channels got Rs 122.81 crore each whereas Bengaluru for its only channel got Rs 109.25 crore as provisional winning price.
Cities like Guwahati, Bhubaneshwar and Jodhpur witnessed robust bidding activity with provisionally won price being as high as 800 per cent over reserve price for their channels.
Overall, 18 cities got provisionally won bidders for their channels at prices more than double the respective reserve prices.
After the first round today, which was the 125th round overall, closure condition for the channel allocation stage was attained, the ministry said.

E-auction of the first batch consists of two stages- Channel allocation stage and Frequency allocation stage. After the Channel allocation stage, the Frequency allocation stage will commence tomorrow.