| 17 Apr 2024
Provisional winning price at end of fourth day of FM Phase III goes higher than the total reserve price for 135 channels

NEW DELHI: The summation of provisional winning prices at the end of the fourth day of the FM Phase III auctions surpassed Rs 550.18 crore, which is the total reserve price of the 135 channels. 

The fourth day of the e-auction showed marked enthusiasm, but there were still no bids in as many as fourteen cities, and the provisional winning price was lower than the Clock round Price in some cases.

In all, sixteen rounds of e-auction have been completed, including four today, for the 135 FM channels in all the existing 69 cities of the first stage being opened.

At the close of the fourth day of bidding, 80 channels in 55 cities became provisionally winning channels with cumulative provisional winning price of around Rs 643 crore against their aggregate reserve price of about Rs 391 crore.

The Auction began for the fourth 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, Mumbai and Chennai, and in Bhubaneswar, Bengaluru, Ahmedabad, Guwahati, Rourkela, Jodhpur, and Pune.

The highest Provisional winning price – the same as the Clock round price at the start of the sixteenth round – was in Delhi – Rs 86,57,45,468, followed by Mumbai – Rs 78,00,67,006 with both showing sizeable increase compared to the first three days. Hyderabad at Rs 18,00,00,000 and Lucknow - Rs 14,00,55,000; Cochin - Rs 10,21,81,689 and Chandigarh at Rs 15,76,61,595. 

Among cities recording more than Rs 10 crore, it rose sizably in Bengaluru - Rs 44,90,48,478; Pune - 29,11,64,276;. Chennai - Rs 25,50,84,478 and Ahmedabad - Rs 24,95,85,716. 

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.