| 24 May 2022
Winning price of Rs 1820 mn offered on first day of second batch auction of FM Phase III

NEW DELHI:A total of 58 channels in 42 cities became Provisionally Winning Channels with cumulative provisional winning price of around Rs.1820 million (Rs 182 Crore) in a total of four clock rounds that concluded on the first day today of the e-Auction of the Second Batch of Private FM Radio Phase III Channels,

This was against their aggregate reserve price of about Rs.1792 million (Rs 179.2 crore).

A total of 266 FM Channels in 92 cities comprising 227 channels in 69 fresh cities and 39 unsold channels from 23 cities of batch I of Ph-III have been put on auction in the second batch.

A total of 14 bidders were allowed to participate in the auction. The ongoing auction is a Simultaneous Multiple Round Ascending (SMRA) e-auction which is being conducted on line.

The states of Uttarakhand and Nagaland and Border Area Towns of Poonch Mokukchung, Leh, Kathua, Kargil, Bhaderwa to have Private FM Channels for the first time.