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At the close of the 31st day of bidding at the e-auction of the first batch of private FM Radio Phase III channels, the cumulative bid price ended at about ₹1,156.9 crore. The Ministry of Information & Broadcasting said that 97 channels in 56 cities became provisional winners, with cumulative provisional winning price of about ₹1,156.9 crore against their aggregate reserve price of about ₹459.8 crore. So far, 124 rounds of bidding have been completed and bidding will re-commence on Tuesday. The channel allocation stage will continue till bids are received for any of the 135 channels that are up for grabs.
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