| 14 Jul 2024
28 applicants cumulatively submit EMD of about Rs 316.91crores for first batch of Phase III

MUMBAI: According to the statement issued by the Ministry of Information and Broadcasting, a total of 28 applications have been submitted for the e-auction of 135 Private FM Radio channels for the first batch of the Phase III expansion plan.

The statement was issued by the Ministry on 30 March. The last date for applications in connection with the e-auction of 135 Private FM Radio channels in 69 existing cities was 27 March.

Some of the big players in the list include The Mathrubhumi Printing & Publishing co. Ltd, DB Corp Ltd, Reliance Broadcast Network Ltd, Entertainment Network (India) Ltd, HT Media Limited, South Asia FM Limited, Sun TV Network Ltd, Digital Radio (Mumbai) Broadcasting Ltd, Pudhari Publications Pvt Ltd, Kal Radio Ltd and Pratidin FM Pvt Ltd.

A few other potential players in list including Abhijit Realtors & Infraventures Pvt Ltd, Sarthak films Pvt Ltd, Embassy Nirman Pvt. Ltd, Abir Buildcon Pvt Ltd, Remi Overseas Pvt Ltd and Sunplant broadcasting Pvt Ltd, amongst others.

Through the applications, the Ministry received Earnest Money Deposit (EMD) of about Rs. 316.91 crores.

The statement by the Ministry further stated that a "mere receipt of applications by the Ministry does not confer the applicants any right or eligibility for participation in the upcoming auction. After scrutiny and subject to fulfillment of requirements as prescribed in the Notice Inviting Applications (NIA) dated 2nd March, 2015, a list of pre-qualified bidders will be prepared."