| 22 Jul 2024
Provisional Winning Price crosses Rs 779 crore for 82 channels in 56 cities in FM Phase III for first batch

NEW DELHI: A total of 82 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of around Rs 779 crore against their aggregate reserve price of about Rs 395 crore at the end of the sixth day of bidding for FM Phase III.

Even as twenty-four rounds of the e-auction ended, with four more rounds today, the provisional winning prices exceeded the total reserve price of the first batch by about Rs 228.68 Crore or 41.56 per cent. Rs 550.18 crore was the total reserve price of the first batch of 135 FM Channels in 69 existing cities of Phase III.

The Auction Activity Requirement of 80 per cent set at the beginning of the auction continued to remain the same on the sixth day.

The sixth day was hectic, but there were still no bids in as many as thirteen cities though the provisional winning price steadied at the Clock round Price in the other cases.
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 Mumbai, Bengaluru, Ahmedabad, Amritsar, Guwahati, Rourkela, Jaipur, Kolhapur, Nagpur, Nasik, Patna, and Rajkot and eight per cent in Bhubaneswar.

The highest Provisional winning price – the same as the Clock round price at the start of the twenty-fourth round – was in Delhi – Rs 1,18,35,01,376, followed by Mumbai – Rs 86,08,51,173 with both showing sizeable increase compared to the first three days.

Among cities recording more than Rs 10 crore, it rose sizeably in Bengaluru - Rs 66,34,49,115; Ahmedabad - Rs 36,87,51,771; Pune - 32,45,30,580, and Chennai - Rs 33,54,24,393, Jaipur – Rs 11,52,56,480, and marginally in Chandigarh at Rs 15,92,38,210.

Hyderabad at Rs 18,00,00,000, Lucknow - Rs 14,00,55,000; and Cochin - Rs 10,21,81,689 remained static.

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. The auctions will continue tomorrow, 4 August.