| 29 Feb 2024
No bids from three cities and majority bid low on second day of second batch of FM Phase III

NEW DELHI: While four more rounds were completed on Thursday taking the total to eight in the auction of the second batch of Radio FM Phase III, there were no bids from three cities – Hyderabad,. Jhansi and Muzaffarpur.

The bids in a majority of towns remained below the basic price at the commencement of the auction on the second day.

A total of 58 channels in 42 cities had become Provisionally Winning Channels with cumulative provisional winning price of around Rs.1820 million (Rs 182 Crore) in a total of four clock rounds concluded yesterday and later South Asia FM was declared winner for five cities,

This was against their aggregate reserve price of about Rs.1792 million (Rs 179.2 crore).

A total of 266 FM Channels in 92 cities comprising 227 channels in 69 fresh cities and 39 unsold channels from 23 cities of batch I of Ph-III have been put on auction in the second batch.

A total of 14 bidders were allowed to participate in the auction. The ongoing auction is a Simultaneous Multiple Round Ascending (SMRA) e-auction which is being conducted on line.

The states of Uttarakhand and Nagaland and Border Area Towns of Poonch Mokukchung, Leh, Kathua, Kargil, Bhaderwa to have Private FM Channels for the first time.