| 18 Jul 2024
FM Phase III: 44 cities fail to attract bids even as Muzaffarpur crosses Rs 10 million

NEW DELHI: The pace of auctions remains tardy with three rounds on the 18th day touching 69, Muzaffarpur continued to be the only silver lining with the bid touching Rs 1,04,71,053 showing a consistent rise for the third day with the price percentage increment at five, even as forty-four cities failed to attract any bids even after a week.

The aggregate rise in bids in around forty cities remained unchanged at just one or two points, and the e-auction for FM Phase III appeared to be slowing down with Hyderabad and Dehradun continuing to lead with bids of Rs 23,43,48,266 and Rs 15,61,00,590 respectively.

The demand in Muzzafarpur went up to Rs 78,13,663 on the 16th day to Rs 90,45,291 yesterday.

For the third time since the auctions began, there were only three rounds as against the customary four per day.

The bids at 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 bid a little over Rs 35 million and Mysore a little over Rs 32 million.

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 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 involved in Motion picture, radio, television and other entertainment activities

Also Read:

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

FM Phase III: Muzaffarpur shows increase but pace for rest is slow