First batch of radio channels in phase-III auction earns govt Rs 900-cr

By: | Published: August 7, 2015 10:12 AM

At the close of the ninth day of e-auctions of the first batch of private radio channels for Phase-III expansion, the cumulative provisional winning price of 85 channels in 56 cities touched Rs 900 crore as against their aggregate reserve price of about Rs 407 crore.

At the close of the ninth day of e-auctions of the first batch of private radio channels for Phase-III expansion, the cumulative provisional winning price of 85 channels in 56 cities touched Rs 900 crore as against their aggregate reserve price of about Rs 407 crore.

In a statement here, the Information and Broadcasting ministry, which is conducting the auctions, said that four rounds of bidding took place today, taking the total number of rounds to 36.

“At the close of the ninth day of bidding, 85 channels in 56 cities became provisionally winning channels with cumulative provisional winning price of Rs 900 crore against their aggregate reserve price of about Rs 407 crore,” the ministry said.

It added that the summation of provisional winning prices had surpassed the cumulative reserve price of the said 85 channels by Rs 493.19 crore or 121.2 per cent.

“Overall, cumulative provisional winning price exceeded the total reserve price of the first batch by Rs 349.89 crore or 63.6 per cent. Rs 550.18 crore is the total reserve price of the first batch,” the ministry said.

The auction for the first batch, comprising 135 FM channels in 69 existing cities of Phase II, began on July 27. Bidding will recommence tomorrow, the ministry added.

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