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FM Phase III: Mumbai and Delhi cross Rs 65 crore bids on Day 3

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FM Phase III: Mumbai and Delhi cross Rs 65 crore bids on Day 3

Day 3 of the Phase III auctions ended today with now a total of 12 rounds having occurred.

Ahmedabad, which had seen 4 bids on Day 2, saw the highest bid value increase to over Rs 20 crore. Bhubhaneshwar also saw its bid price increase to Rs 1.7 crore, while Bangalore’s bid amount now stands at just under Rs 37 crore. Bhubhaneshwar has so far been the surprise package of the auctions and it is sure to see more hectic bidding in the rounds to come.

The North-east region continued to remain quiet apart from Guwahati with 3 bids for its single frequency, with the closing highest bid at Rs 64.65 lakh (approx). Gorakhpur also saw 2 bids with the highest bid amount of Rs 31 lakh.

Mumbai continued to be the favourite as the bid amount went up to just above Rs 67 crore. Delhi is closing the gap on Mumbai with the highest value bid standing at Rs 65.45 crore. Both metros are highly sought after and have 5 bids each though the capital has just one frequency to Mumbai’s 2.

Bangalore, had 4 bids for its single frequency with the highest bid value increasing to just under Rs 37 crore. Chennai is another city which has seen a lot of interest. It ended Day 3 with 4 bids and highest bid of just under Rs 21 crore.

In the north, Jodhpur continued to be in a tussle with 2 bids for its 1 frequency, which has seen the bid amount rise to Rs 2 crore (approx). Kanpur and Jaipur have both received one bid so far.

Hyderabad, which had a disappointing start on day I and saw three bids by the end of Day 2, was static with a highest bid amount of Rs 18 crore. It seems all three bidders are waiting to see who blinks first.

Pune has received 4 bids for its 2 frequencies and saw the bid amount increase to around Rs 24 crore.


Tags FM Radio Phase III Abhinn Shreshtha

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