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The cumulative provisional winning bid price closed at ₹1,123 crore at the end of Wednesday in the e-auction of the first batch of private FM radio Phase III channels. This was nearly 104 per cent higher than the total reserve price of the first batch at ₹550.18 crore.
“At the close of the 18th day of bidding, 94 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about ₹1,123 crore against their aggregate reserve price of about ₹459 crore,” the Ministry of Information & Broadcasting said in a statement.
The auction for the first batch comprising 135 FM Channels in 69 existing cities of phase II began on July 27. So far 72 rounds of bidding have been completed.
“The Auction Activity Requirement (AAR) is 100 per cent. It was increased from 90 per cent after 59th round on August, 14. The channel allocation stage will continue till the bids are received for any of the 135 channels,” the official statement added.
The bidding will continue on Thursday.
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