| 15 Jul 2024
Provisional Winning Price rises to about Rs 827 crore in 56 cities, more than twice the aggregate reserve price

NEW DELHI: The cumulative provisional winning price has risen to around Rs 827 crore for 83 channels in 56 cities against their aggregate reserve price of about Rs 395 crore at the end of the seventh day of bidding for FM Phase III.

Even as twenty-eight rounds of the e-auction ended, with four more rounds today, the provisional winning prices exceeded the total reserve price of the first batch by about Rs 277.05 Crore or 50.35 per cent. There was the total reserve price of Rs 550.18 crore for the first batch of 135 FM Channels in 69 existing cities of Phase III.

The Auction Activity Requirement of 80 per cent set at the beginning of the auction continued to remain the same on the sixth day.

There were still no bids in as many as thirteen cities on the seventh day and the demand over the price in many cities fell by up to three per cent below the aggregate demand, except in Bhubaneswar where it rose to 4 per cent above the aggregate demand.

The Percentage Price Increment (in INR) applicable for the Next Clock Round was five in Mumbai, Bengaluru, Ahmedabad, Amritsar, Guwahati, Rourkela, Jaipur, Kolhapur, Nagpur, Nasik, Patna, and Rajkot and eight per cent in Bhubaneswar.

The highest Provisional winning price – the same as the Clock round price at the start of the twenty-eighth round – was in Delhi – Rs 1,23,15,56,275, followed by Mumbai – Rs 87,81,54,280 with both showing marginal increase compared to yesterday.

Among cities recording more than Rs 10 crore, it rose sizeably in Bengaluru - Rs 80,64,26,544; Ahmedabad - Rs 42,68,76,267; Chennai - Rs 37,72,38,479, Patna – Rs 17,04,60,835; Jaipur – Rs 12,96,24,380; and marginally in Chandigarh at Rs 16,24,38,897.

Pune at Rs 32,45,30,580, Hyderabad at Rs 18,00,00,000, Lucknow - Rs 14,00,55,000; and Cochin - Rs 10,21,81,689 remained static.

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.