92 channels became provisional winning channels in auction

At the end of 16th day of bidding in the e-auction of the First Batch of Private FM Radio Phase III Channels, 92 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1090 crore against their aggregate reserve price of about Rs 451 crore. Four rounds of bidding took place today and till now, 64 rounds of bidding are over. "Thus the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 92 channels by Rs 638.71 crore or 141.5 percent.

Overall, cumulative provisional winning price exceeded the total reserve price of the first batch i.e. Rs 550.18 crore by Rs 539.76 crore or 98.1 per cent," an official statement said. The Auction for the first batch comprising 135 FM Channels in 69 existing cities of Phase II began on July 27, 2015.