| 21 Apr 2024
FM Phase III bidding crosses Rs 1000 crore figure

NEW DELHI: The thirteenth day of the e-auction for the first batch of FM Phase III cities saw the cumulative provisional winning price cross the Rs 1000 crore mark, though the progress showed only mild signs of rise at the end of the 52nd round.

A total of 87 channels in 56 cities became provisional winning channels with cumulative provisional winning price of Rs 1005 crore against their aggregate reserve price of about Rs 425 crore. Thus, the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 87 channels by Rs 580.23 crore or 136.5 per cent.

Overall, cumulative provisional winning price exceeded the total reserve price of the first batch of 135 FM Channels in 69 existing cities - Rs 550.18 crore - by Rs Rs 455.08 crore or 82.7 per cent - around 3 per cent above yesterday.

The Auction Activity Requirement continued to remain at 90 per cent, raised after the 37th round on 7 August.

The thirteen cities for which bids have still not come are Asansol, Gulbarga, Mangalore, Mysore, Puducherry, Rajahmundry, Siliguri, Tiruchy, Tirunveli, Tirupati, Tuticorin, Vijaywada and Warangal.

The demand over the price in most cities fell by up to three per cent and four per cent below the excess demand at the price in 52nd round in Hyderabad.

The Percentage Price Increment (in INR) applicable for the Next Clock Round rose to just one in Amritsar, Chandigarh, Chennai, Cochin, Delhi, Hisar, Mumbai, and Pune.

The highest provisional winning price was in Delhi – Rs 1,62,56,80,342 (for just one channel), followed by Mumbai – Rs 98,95,26,216, both showing marginal increase compared to yesterday.

Among cities recording more than Rs 10 crore, it rose sizeably in Chennai - Rs 47,89,92,753 and Pune at Rs 39,59,88,970; and marginally in Jaipur – Rs 27,24,36,380; Chandigarh at Rs 18,30,40,208 and Cochin - Rs 12,84,59,027.

Thus, Mumbai is the only other city inching towards the Rs 100 crore-figure.

Bengaluru - Rs 1,06,04,13,944; Ahmedabad at Rs 42,68,76,267, Hyderabad at Rs 18,00,00,000, Patna – Rs 17,89,83,876 and Lucknow - Rs 14,00,55,000 Nasik - Rs 10,30,72,273 remained static.

The following Table summarizes first thirteen 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 C 1 e-auctioneers.