| 17 Jun 2024
FM Phase III: Slow pace disappoints in first fortnight with little rise in bids

NEW DELHI: Although Hyderabad and Dehradun continued to lead with bids of Rs 23,43,48,266 and Rs 15,61,00,590 respectively in the FM Phase III, the first fortnight of the auctions generally remained disappointing with little movement in the bids or the price percentage increase on completion of 55 rounds.

In fact, the number of rounds fell from four to three for the first time on the 14th day of auction on 21 November.

While Muzaffarpur showed a price percentage increase of one, and 44 cities have still failed to attract any bids.

Agartala has joined the band of Alappuzha (Alleppey), Erode, Hubli-Dharwad, Nellore, Salem, Vellore and Vijaywada where bids remained at just over Rs 70 million while bids for Tiruchy rising to just above Rs 50 million and Tirupathi and Puducherry to a little over Rs 40 million. Amravati, Bhavnagar, Jamnagar and Ujjain bid a little over Rs 35 million, and Mysuru with a little over Rs 32 million.

Thus, apart from minor rise in Agartala and Ujjain, there has been little movement in other cities over the past week.

The first day of auction on 26 October saw a winning price of Rs 1820 milion 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 at Registrar of Companies, Chennai. Its authorized share capital is Rs. 6,550,000,100 and its paid up capital is Rs. 6,153,605,100.It is inolved in Motion picture, radio, television and other entertainment activities

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