| 18 Jul 2024
FM Phase III: No bids for 46 cities despite mild rise in auction

MUMBAI: Day eight of FM Phase III auction did not witness any major changes. Hyderabad continued to lead with its bid of Rs 23,43,48,266 and Dehradun continued at second place with Rs 15,61,00,590. The number of cities with no bids too stays stagnant with 46.

The bids for Alappuzha (Alleppey), Erode, Hubli-Dharwad, Nellore, Salem, Vellore and Vijaywada remained at just over Rs 70 million while bids for Tiruchy was just above Rs 50 million and Tirupathi and Puducherry to a little over Rs 40 million. Amravati, Bhavnagar, Jamnagar and Ujjain stayed at Rs 35 million at the end of the eighth day. Mysore with a little over Rs 32 million is another city likely to show a further rise in coming days.

Four more rounds conducted today take the total to 32 on the eighth day.

Read More: South Asia FM bags five channels in first round of the second batch of FM Batch III

The first day of auction on 26 October saw a winning price of Rs 1820 million against the aggregate price of Rs 1792 million, while the second day saw low bids and no bids from three cities.

Meanwhile, M/s South Asia FM Ltd has been declared as the winning bidder for five Radio FM channels, just a day after the commencement of the auction for the second batch of Phase III.

The company will be allotted FM Channels in Surat, Amritsar, Patna, Chandigarh and Jammu.

Information and Broadcasting Ministry sources told that the aim was to continue till all the channels slated in the second batch were auctioned, but breaks will have to be taken for weekends and national holidays.

This data has been compiled on the basis of system generated “Final Round Result Report” and “Frequency Identification Report” accessible through auction administrator role.

South Asia FM Limited, one of the fourteen shortlisted bidders, is a Public incorporated on 9 November 2005. It is classified as Non-govt Company and is registered with Registrar of Companies, Chennai. Its authorised share capital is Rs. 6,550,000,100 and it is paid up capital is Rs. 6,153,605,100.It is involved in Motion picture, radio, television and other entertainment activities

Also Read: Stalemate continues in 48 cities even as some more cities show increasing bids in FM Phase III

FM Phase III: No increase in bids for Hyderabad and Dehradun even as more bidders enter fray