FM channel e-auction: 97 channels become provisional winners

At the close of the 29th day of bidding in the e-auctions for private FM Radio channels under the Phase III expansion, 97 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1156.6 crore.

In a statement released in Delhi, the Information and Broadcasting ministry said that the aggregate reserve price of these channels was about Rs 459.8 crore.

Thereby the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 97 channels by Rs 696.7 crore or 151.5%, the ministry said.

Overall, cumulative provisional winning price exceeded the total reserve price of the first batch i.e Rs 550.18 crore by Rs 606.4 crore or 110.2%, it added. The Auction for the first batch comprising 135 FM Channels in 69 existing cities of Phase II began on 27th July 2015. Till now, 116 rounds of bidding are over.