| 11 Dec 2023
Mumbai joins the Rs 100 crore club for FM Phase III channels

NEW DELHI: Mumbai finally became the third city to join the Rs 100 crore club on the fourteenth day of the e-auction for the first batch of FM Phase III cities as the cumulative provisional winning price touched around Rs 1022 crore, though the overall progress showed only mild signs of rise at the end of the 56th round.

With this, a total of 88 channels in 56 cities became provisional winning channels whose aggregate reserve price was about Rs 425 crore. Thus the summation of provisional winning prices surpassed the cumulative reserve price of the 88 channels by Rs 596.61 crore or 140.1 per cent.

Overall, cumulative provisional winning price exceeded the total reserve price of the first batch of 135 FM channels in 69 existing cities - Rs 550.18 crore - by Rs 472.08 Crore or 85.8 per cent - around three per cent above yesterday. 

While Delhi continued to show a rise, Bengaluru remained static though it was still above Mumbai where two channels were allocated to provisional winning bidders for Rs 100.94 crore each.

The Auction Activity Requirement continued to remain at 90 per cent, raised after the 37thround on 7 August.

The thirteen cities for which bids have still not come are Asansol, Gulbarga, Mangalore, Mysore, Puducherry, Rajahmundry, Siliguri, Tiruchy, Tirunveli, Tirupati, Tuticorin, Vijaywada and Warangal.

The demand over the price in most cities fell by up to three per cent and four per cent below the excess demand at the price in 56th round in Hyderabad.

The Percentage Price Increment (in INR) applicable for the Next Clock Round rose to five in Chennai and Mumbai but was just one in Amritsar, Chandigarh, Cochin,  Jaipur,  and Pune.

The highest Provisional winning price was in Delhi – Rs 1,67,49,40,081 (for just one channel), followed by Mumbai – Rs 1,00,94,15,692, both showing marginal increase compared to yesterday. Bengaluru with Rs 1,06,04,13,944 remained static.

Among cities recording more than Rs 10 crore, it rose sizeably in Chennai - Rs 49,84,41,778 and Pune at Rs 41,20,67,708. and marginally in Jaipur – Rs 28,06,91,473; Chandigarh at Rs 18,67,19,316, and Cochin - Rs 13,36,74,977.

Besides, Bengaluru, Ahmedabad at Rs 42,68,76,267, Hyderabad at Rs 18,00,00,000, Patna – Rs 17,89,83,876, Lucknow - Rs 14,00,55,000, and Nasik - Rs 10,30,72,273 remained static.

 The following Table summarizes first fourteen days of bidding:

The ongoing auction is a Simultaneous Multiple Round Ascending (SMRA) e-auction which is being conducted online from Auction Control Room No. 404 B Wing, Shastri Bhawan by C 1 e-auctioneers.