Four more rounds of bidding took place today in the e-auction of the First Batch of Private FM Radio Phase III Channels after which 82 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of around Rs 779 crore.
In a statement released today, Information and Broadcasting ministry which is conducting the auction said that till now, 24 rounds of bidding are over.
"At the close of the sixth day of bidding, 82 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of around Rs 779 crore against their aggregate reserve price of about Rs 395 crore," the ministry said.
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"Thus the summation of provisional winning prices exceeded the total reserve price of the first batch by about Rs 228.68 crore or 41.56 per cent. Rs 550.18 crore is the total reserve price of the first batch," it added.
The Auction for the first batch comprising 135 FM Channels in 69 existing cities of Phase II began on July 27, 2015.
Bidding will re-commence tomorrow.
