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Phase III auctions: Cumulative provisional winning price crosses Rs 1000 Crore

17-August-2015
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Phase III auctions: Cumulative provisional winning price crosses Rs 1000 Crore

As the first stage of the Phase III FM auctions finishes its third week, 87 channels in 56 cities became provisional winning channels with cumulative provisional winning price of Rs 1005 crore against their aggregate reserve price of about Rs 425 crore at the end of Day 13. Thus the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 87 channels by Rs 580.23 crore or 136.5 per cent.  Overall, cumulative provisional winning price exceeded the total reserve price of the first batch i.e. Rs 550.18 crore by Rs 455.08 crore or 82.7 per cent.

 In all 60 rounds of bidding have been completed with the auctions set to resume on Monday. The Auction for the first batch comprising 135 FM Channels in 69 existing cities of Phase II began on July 27, 2015.

As of August 14, 2015 or Day 15 of the auctions, among individual cities, the provisional winning price, which is the highest bid received, for one channel in Delhi now stands at just above Rs 169 crore though there was no new bid on Day 15. Bangalore had one bid for Rs 107 crore for its single frequency while the other sought after frequency which is Mumbai had 2 active bids for its 2 frequencies with the provisional winning price now in excess of Rs 112 crore.

The dark horse of the auctions, Bhubaneshwar, saw no new bids. Its provisional winning price at the end of the day was just over Rs 7.4 crore.

In the north, Jaipur saw no new bids and its provisional winning price stands at Rs 28.34 crore for its single frequency. Patna, which had seen as many as 5 bids in the first week for its 3 frequencies, does not have any takers for its third frequency. At the end of the day it had 2 bids for three frequencies and its provisional winning price stood at Rs  17.89 crore. Lucknow has seen 1 new bid for its 3 frequencies with the highest bid at just over Rs 14 crore. Chandigarh's late interest continues with 2 bids for its 2 frequencies at just under Rs 20 crore.

Kolhapur has also seen interest fall with just one new bid for its 2 frequencies with the highest bid price at Rs 8 crore (approx). Another city in the state, Pune has also been seeing a lot of interest since the start of the auctions. On Day 15, Pune ended with 1 bid for its 2 frequencies with the closing price at Rs 42.03 crore. Nagpur too saw 1 bids for its 2 frequencies with the highest bid just over Rs 7.76 crore.

Ahmedabad saw no new bids for its single frequency. Guwahati just has one new bid for its single frequency at around Rs 1.65 crore.

Hyderabad remained static with three bids at Rs 18 crore, with no takers for its fourth frequency.

 

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