After nine days, bid price at the e-auction of the first batch of Private FM Radio Phase III channels, touched the Rs 900 crore mark. This was more than double the total aggregate price of the provisional winning channels.

According to the Ministry of Information & Broadcasting, 85 channels in 56 cities became provisional winners with a cumulative provisional winning price of Rs 900 crore. The aggregate reserve price of the respective radio channels was set at about Rs 407 crore.

“Thus the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 85 channels by Rs 493.19 crore. Overall, cumulative provisional winning price exceeded the total reserve price of the first batch by Rs 349.89 crore or 63.6 per cent,” it said in a statement. The total reserve price of the first batch of 135 channels was set at Rs 550.18 crore.

The e-auction which has 135 channels in 69 existing cities up for grabs began on July 27. So far 36, rounds of bidding have been completed. On Thursday, four rounds of bidding took place. Bidding will recommence on Friday.

Delhi’s provisional winning price closed at about Rs 138.64 crore, while Bengaluru’s bid price closed at about Rs 102.92 crore. Mumbai’s provisional winning price closed at about Rs 91.38 crore on Thursday.

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