79 channels become provisional winner on 2nd day of auction

Four more rounds of bidding took place on Tuesday on the second day of the e-auction for the first batch of 135 channels in 69 cities as part of the private FM Radio Phase III expansion. The Ministry of Information and Broadcasting said that the bidding re-commenced on Tuesday at 09.30 AM and during the day, four rounds of bidding took place, an official statement said. "Till now, 8 rounds of bidding are over. The first batch auction for 135 FM Channels in 69 existing cities of Phase III began on July 27, 2015," the ministry said. "At the close of second day of bidding, 79 channels in 55 cities became provisionally winning channels with cumulative provisional winning price of around Rs 479 crore against their aggregate reserve price of about Rs 377 crore," it added. The auction resumed on Tuesday with Auction Activity Requirement set at 80 percent.

Bidding will re-commence tomorrow, the statement added. At the close of first day of bidding on Monday, 78 channels in 54 cities became Provisionally Winning Channels with cumulative provisional winning price of around Rs 395 crore against their aggregate reserve price of about Rs 357 crore. Total 26 bidders had participated in the auction on Monday.