The provisional winning bid prices totalled ₹969 crore on Monday, at the e-auction of the first batch of Private FM Radio Phase III channels.
“At the close of the eleventh day of bidding, 87 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of ₹969 crore against their aggregate reserve price of about ₹425 crore,” the Ministry of Information & Broadcasting said in a statement.
Overall cumulative winning price has exceeded the reserve price of the first batch of the radio auction by 76 per cent.
So far 44 rounds of bidding have been completed. Four rounds took place on Monday. Bidding will re-commence on Tuesday. The Auction Activity Requirement of 90 per cent set after 37{+t}{+h} round continued on Monday as well, the statement added.