Second batch of FM radio Phase III e-auction commences

E-auction of the second batch of private FM radio Phase III channels commenced yesterday, October 26, 2016. During the day, four rounds of bidding took place. 266 FM channels in 92 cities, comprising 227 channels in 69 fresh cities and 39 unsold channels from 23 cities of Batch I of Phase III have been put on auction in the second batch.

 At the close of first day of bidding, 58 channels in 42 cities became Provisionally Winning Channels with cumulative provisional winning price of around Rs 182 crore against their aggregate reserve price of about Rs 179.2 crore.

 A total of 14 bidders were allowed to participate in the e-auction yesterday. The ongoing auction is a Simultaneous Multiple Round Ascending (SMRA) e-auction, which is being conducted online. Following this exercise, the states of Uttarakhand and Nagaland and border area towns of Poonch, Mokukchung, Leh, Kathua, Kargil, and Bhaderwa will get private FM channels for the first time.