| 20 Jul 2024
FM Phase III: Cumulative price races up to over Rs 1151 crore; Jodhpur joins Rs ten-crore club

NEW DELHI: With Jodhpur joining Varanasi in the Rs 10-crore plus cities and the attention zeroing on other cities racing to this mark, the cumulative winning price at the end of the 104th round on the 26th day raced up to Rs 1151.6 crore in the e-auction for the first batch of FM Phase III cities.

One channel in Guwahati fetched a price of Rs 4, 11, 11,243 as against its reserve price of just 37 lakh, registering a rise of almost of 980 per cent. A few days earlier, Bhubaneswar had also set a record with a single channel getting the most competitive bidding increment-wise by going up nine times the reserve price.

But there is no increase for almost a week in the number of provisional winning channels and cities - 94 channels in 56 cities – though the total bids surpassed the cumulative reserve price by Rs 692.7 crore or 150.9 per cent against the aggregate reserve price of about Rs 459 crore.

The cumulative provisional winning price has thus risen over the total reserve price of the first batch of 135 FM channels in 69 existing cities - Rs 550.18 crore – by Rs 601.4 crore or 109.3 per cent.  

While Varanasi marched higher to Rs 14, 94, 61,737 and Jodhpur showed an increase to Rs 10, 79, 10,537, Kolhapur was static with Rs 9, 44, 24,489. Others, in the waiting for entry to the Rs ten crore club appear to be Kanpur, Rajkot, Amritsar and Aurangabad which have all got above Rs six crore each. 

The cumulative winning price is exclusive of the migration fee which will take the total revenue even higher.

The Auction Activity Requirement rose to 100 per cent after the 59th round on 14 August, after being 90 per cent after the 37th round on 7 August.

But there were still no bids for 13 cities: Asansol, Gulbarga, Mangalore, Mysore, Puducherry, Rajahmundry, Siliguri, Tiruchy, Tirunveli, Tirupati, Tuticorin, Vijaywada and Warangal.

The Percentage Price Increment applicable for the Next Clock Round rose to five each in Shillong and Varanasi but was just one in Ahmednagar and Jodhpur. There was no change in the other cities.

The winning price has risen by more than 100 per cent above their respective reserve prices in Ahmedabad, Amritsar, Aurangabad, Bengaluru, Bhubaneshwar, Chennai, Delhi, Guwahati, Jaipur, Jodhpur, Kolhapur, Mumbai, Nashik, Patna, Pune, Rourkela and Varanasi, all of which got provisional winning bidders at prices more than double the respective reserve prices.

The provisional winning price in the top three cities reflected no change: Delhi – Rs 1,69,16,89,481 (for just one channel); Mumbai – Rs 1,22,81,31,349 (for two channels); and Bengaluru - Rs 1,09,25,45,545.

Chennai - Rs 53,38,83,479; Ahmedabad at Rs 42,68,76,267, Pune at Rs 42,03,50,268; Jaipur – Rs 28,34,98,387; Chandigarh at Rs 19,04,72,374; Hyderabad at Rs 18,00,00,000, Patna – Rs 17,89,83,876, Cochin - Rs 15,04,83,548, Nasik - Rs 14,66,24,270; and Lucknow - Rs 14,00,55,000 Jodhpur 10,79,10,537 remained static.

The following Table summarizes 26 days of bidding:

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