| 02 Dec 2023
FM Phase III: Bidding of channels slumped again with winning price rising marginally to Rs 1123 crore

NEW DELHI: The eighteenth day of the bidding in the e-auction for the first batch of FM Phase III cities appeared to slump as the cumulative provisional winning price touched about Rs 1123 crore at the end of the 72nd round.

With this, a total of 94 channels in 56 cities became provisional winning channels against their aggregate reserve price of about Rs 459 crore.

Thus, the total bids of the provisional winning prices surpassed the cumulative reserve price of the corresponding 94 channels by Rs 664 crore or 144.7 per cent.

The cumulative provisional winning price has thus risen over the total reserve price of the first batch of 135 FM channels in 69 existing cities - Rs 550.18 crore – by 572.68 crore or touch 104 per cent.

The Auction Activity Requirement rose to 100 per cent since 14 August, after being 90 per cent after the 37th round on 7 August.

Information and Broadcasting Ministry sources said the channel allocation stage will continue as long as bids are received for any of the 135 channels.

Bids continued to elude thirteen cities for the 19th day today with no takers for channels in Asansol, Gulbarga, Mangalore, Mysore, Puducherry, Rajahmundry, Siliguri, Tiruchy, Tirunveli, Tirupati, Tuticorin, Vijaywada and Warangal.

The demand in most cities fell by up to three per cent and by four per cent below the excess demand at the price in the 72nd round in Hyderabad.

The Percentage Price Increment (in INR) applicable for the Next Clock Round rose to five each in Allahabad, Guwahati, Nasik and Varanasi but was just one in Jodhpur and Srinagar.

The provisional winning price in the top three cities remained the same: Delhi – Rs 1,69,16,89,481 (for just one channel); Mumbai – Rs 1, 22, 81, 31,349(for two channels); and Bengaluru - Rs 1,09,25,45,545.

Among cities, recording more than Rs 10 crore, it rose marginally only in Nashik - Rs 13, 29, 92,536. Chennai - Rs 53,38,83,479; Ahmedabad at Rs 42,68,76,267, Pune at Rs 42,03,50,268; Jaipur – Rs 28,34,98,387; Chandigarh at Rs 19,04,72,374; Hyderabad at Rs 18,00,00,000, Patna – Rs 17,89,83,876, Cochin - Rs 15,04,83,548, and Lucknow - Rs 14,00,55,000 remained static.

The following Table summarises eighteen days of bidding:

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