FM auctions: 40 rounds & still counting

E-Auction of the First Batch of Private FM Radio Phase III Channels re-commenced today on 07^thAugust 2015 at 09.30 A.M. and during the day, four rounds of bidding took place. Till now, 40 rounds of bidding are over.

At the close of the tenth day of bidding, 86 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of Rs 946 Crore against their aggregate reserve price of about Rs 425 Crore. Thus the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 86 channels by Rs 521.45 Crore or 122.7%. Overall, cumulative provisional winning price exceeded the total reserve price of the first batch i.e. Rs 550.18 Crore by Rs 396.15 Crore or 72%. 

After Delhi, Bengaluru became the second city to fetch provisional winning price of over Rs 100 Crore for its channel.  At the end of the day, provisional winning price of one channel in Bengaluru reached Rs 104.99 Crore. In Delhi, the provisional winning price of one channel has reached Rs 144.27 Crore.

The Auction Activity Requirement of 80% set at the beginning of the auction was changed after Round No 37 and it was increased to 90%.

The following table summarizes first ten days of bidding: