| 23 May 2024
Provisional Winning Price rises to about Rs 869 crore, but still no bids in 13 cities

NEW DELHI: Even though the cumulative provisional winning price touched around Rs 869 crore against its aggregate reserve price of about Rs 395 Crore at the end of 32 rounds on the eighth day of bidding for FM Phase III, no bids have come for as many 13 cities.

A total of 83 channels in 56 cities became provisionally winning channels after four more rounds today. Thus the summation of provisional winning prices exceeded the total reserve price of the first batch by about Rs 319.11 Crore or 58 per cent. Rs 550.18 Crore is 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 eighth day.

The cities for which no bids have come are Asansol, Gulbarga, Mangalore, Mysore, Puducherry, Rajahmundry, Siliguri, Tiruchy, Tirunveli, Tirupati, Tuticorin, Vijaywada and Warangal.

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 Bengaluru, Bhubaneswar and Jaipur.

The highest Provisional winning price – the same as the Clock round price at the start of the twenty-eighth round – was in Delhi – Rs 1,33,23,17,342, followed by Mumbai – Rs 89,58,05,180 with both showing marginal increase compared to yesterday.

Among cities recording more than Rs 10 crore, it took a leap in Bengaluru - Rs 98,02,16,503; and rose sizeably in Chennai - Rs 39,25,55,871, Patna – Rs 17,04,60,835; Jaipur – Rs 15,75,59,242; and marginally in Chandigarh at Rs 16,57,03,917 Cochin - Rs 10,52,77,895.

Thus Bengaluru became another city which may soon cross the Rs 100 crore figure.

Ahmedabad - Rs 42,68,76,267, Pune at Rs 32,45,30,580, Hyderabad at Rs 18,00,00,000, and Lucknow - Rs 14,00,55,000 remained static.

The following Table summarises first eight 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.