After Delhi and Bengaluru, Mumbai became the third city to see provisional bid price crossing the ₹100-crore mark at the e-auction of the first batch of the Private FM Radio Phase-III channels.
On Thursday, provisional winning price for each of the two channels in Mumbai closed at ₹100.94 crore, said the Ministry of Information & Broadcasting in a statement.
At the same time, provisional winning price of Delhi’s one channel reached ₹167.49 crore whereas Bengaluru for its single channel had provisional winning price of ₹106.4 crore by the end of the day.
“At the close of the 14th day of bidding, 88 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about ₹1,022 crore against their aggregate reserve price of about ₹426 crore,” the official statement added. Overall cumulative provisional winning price was up by 85.8 per cent compared to the total reserve price of the first batch that was set at ₹ 550.18 crore.
The auction for the first batch of 135 FM channels in 69 existing cities began on July 27. So far 56 rounds of bidding have been completed; four rounds of bidding took place on Thursday. Bidding will re-commence on Friday.