Provisional winning price of Bengaluru FM channel over Rs 100 crore

By: | Published: August 7, 2015 9:40 PM

After Delhi, Bengaluru became the second city where the provisional winning price for a channel crossed the figure of Rs 100 crore in the e-auction...

After Delhi, Bengaluru became the second city where the provisional winning price for a channel crossed the figure of Rs 100 crore in the e-auction for the First Batch of Private FM Radio Phase III Channels, even as bidding continues.

“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 Union Information and Broadcasting ministry said in a statement.

Four rounds of bidding took place and till now 40 rounds of bidding are over, it said.

“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,” the ministry said.

It added that with this the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 86 channels by Rs 521.45 crore or 122.7 per cent.

Overall, cumulative provisional winning price exceeded the total reserve price of the first batch by 154.03 crore or 72 per cent, the ministry said.

The total reserve price of the first batch was Rs 396.15 crore and the provisional winning price Rs 550.18 crore.

After Delhi, Bengaluru became the second city to fetch provisional winning price of over Rs 100 crore for its channel.

The Auction for the first batch comprising 135 FM Channels in 69 existing cities of Phase II began on July 27, 2015. Bidding will re-commence on Monday.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition