After one week of the first stage of the auctions , 80 channels in 55 cities combined to give a provisional winning price of Rs 714 crore against their aggregate reserve price of about Rs 391 crore. Thus the summation of provisional winning prices exceeded the total reserve price of the first batch by about Rs 163.48 crore or 29.71 per cent. Rs 550.18 crore is the total reserve price of the first batch. In all 20 rounds of bidding have been completed with the auctions set to resume on Monday.
The auctions will continue till the auction activity requirement of 80% set at the beginning of the auction is met, which means that at least 80 per cent of the participants must participate in a round.
On Monday we came to the 6th day of the auctions, and among individual cities, the provisional winning price, which is the highest bid received, for one channel in Delhi now stands at Rs 1. 1 crore (approx) . Delhi has seen its bids fall from 5 to one as of today.
The likes of Radio Mirchi, RED FM, Fever FM, etc. are all expected to be heavily interested in getting an additional frequency in the city. But now that there is only one bid left it need to be seen who among all is actually staking a bid even now.
Bangalore now has 3 bids for its single frequency with the bid amount now in excess of Rs 66 crore for its single frequency, while Chennai saw another bid, and now has 2 bids for its single frequency for just over Rs 33.50 crore.
As the south market is supposed to be more mature than other regions, the two cities could still intense competition from regional as well as national players.
Mumbai was supposed to be one of the most sought after frequency, but after a week of bidding the market for the city is not really holding up to expectations. As of yesterday, it had two bids for its two frequencies, with the highest bid of around Rs 86 crore.
Bhubaneshwar is still going strong with 4 bids and an amount of just less than Rs 4 crore for its single frequency.
In the north, Jaipur’s two way battle has seen a difference with a third bid as it sees its price rise to Rs 11.5 crore
Patna has 5 bids for its 3 frequencies with the provisional winning price in excess of Rs 11. 57crore. Lucknow has seen 2 bids for its 3 frequencies with the highest bid at Rs 14 crore.
Chandigarh, against expectations, is underperforming with a bid of just under Rs 16 crore for its 2 frequencies.