| 22 Jul 2024
Provisional Winning Price for Delhi crosses Rs 100 crore as total bids reach up to Rs 714 crore

NEW DELHI: Even as twenty rounds of the FM Phase III e-auction ended with four more rounds today, the provisional winning price for one channel in Delhi crossed the Rs 100 crore mark.

The bidding for this one channel in Delhi got the Provisional winning price of Rs 105.23 crore, which is more than three times its reserve price of Rs 31.42 crore.

At the close of the fifth day of bidding, 80 channels in 55 cities became provisionally winning channels with cumulative provisional winning price of around Rs 714 crore against their aggregate reserve price of about Rs 391 crore.

Thus the summation of provisional winning prices exceeded the total reserve price of the first batch by about Rs 163.48 Crore or 29.71 per cent. Rs 550.18 crore is the total reserve price of the first batch of 135 channels in the existing 69 cities.

The fifth day of the e-auction was hectic but there were still no bids in as many as fourteen cities though the provisional winning price steadied at the Clock round Price in the other cases.

The Auction began for the fifth day with Auction Activity Requirement set at 80 per cent.

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 the metros of Delhi and Mumbai, and in Bengaluru, Ahmedabad, 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 twentieth round – was in Delhi – Rs 1,05,23,19,025., followed by Mumbai – Rs 82,72,61,059 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 54,58,21,230.00; Ahmedabad - Rs 30,33,72,996; Pune - 29,11,64,276, and Chennai - Rs 29,82,45,088 (s) 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 following Table summarises the first five 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. The next round will be on Monday, 3 August.