| 20 Jul 2024
Bengaluru enters Rs 100-crore club as provisional winning price rises to Rs 946 crore on tenth day

MUMBAI: Bengaluru became the second city along with Delhi to cross the Rs 100 crore mark even as the cumulative provisional winning price touched Rs 946 crore against their aggregate reserve price of about Rs 425 crore at the end of 40 rounds on the tenth day of bidding for FM Phase III.
A total of 86 channels in 56 cities became provisionally winning channels with cumulative provisional winning price. Thus, the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 86 channels by Rs 521.45 Crore or 122.7 per cent.
Overall, the cumulative provisional winning price exceeded the total reserve price of the first batch of 135 FM Channels in 69 existing cities is Rs 550.18 crore which is an increase by 72 per cent or  by Rs 396.15 crore.
The auction activity requirement was raised to 90 per cent after the 37th round after being at 80 per cent from the beginning of the auction.
Asansol, Gulbarga, Mangalore, Mysore, Puducherry, Rajahmundry, Siliguri, Tiruchy, Tirunveli, Tirupati, Tuticorin, Vijaywada and Warangal, are the 13 cities for which no bids have come.
The demand over the price in many cities fell by up to three per cent below the aggregate demand.
The percentage price increment (in INR) applicable for the next clock round was five in Jaipur and Nasik and just one in Amritsar, Bengaluru, Chandigarh, Chennai, Cochin, Delhi, Hisar, Mumbai, Patiala and Pune.
The highest provisional winning price – the same as the clock round price at the start of the twenty-eighth round – was in Delhi – Rs 1,44,27,08,765 (for just one channel), followed by Bengaluru - Rs 1,04,99,14,797 which had a quantum jump and Mumbai – Rs 93,21,78,460 showing marginal increase compared to yesterday.
Among cities recording more than Rs 10 crore,  is in Jaipur – Rs 23,27,86,756; and marginally in Chennai - Rs 42,50,81,754, Pune at Rs 35,14,20,110, Patna – Rs 17,89,83,876, Chandigarh at Rs 17,24,32,159, and Cochin - Rs 11,40,00,870.
Thus, Mumbai is the only city which may soon cross the Rs 100 crore mark, besides Delhi which did so early in the e-auctions and Bengaluru which did so today with a quantum jump.
Ahmedabad at Rs 42, 68, 76,267, Hyderabad at Rs 18, 00, 00,000, and Lucknow - Rs 14, 00, 55,000 remained static.

The following table summarises first ten days of bidding:

The ongoing auction is a Simultaneous Multiple Round Ascending (SMRA) e-auction which is being conducted online from Auction Control Room No. 404 B Wing, Shastri Bhawan by C1 India Pvt. Ltd. Biiding will re-commence on 10 August at 9.30 am.