NEW DELHI: Prospective bidders in the second batch of FM Radio Phase III have been invited for a pre-bid meeting.

The meeting has been called by the Information and Broadcasting Ministry on 11 July 2016 at Auditorium 2 in Sirifort in south Delhi.

The e-auction comprises 266 channels in 92 cities is to be held around mid-September this year.

The channels include 227 channels in 69 fresh cities and 39 channels in 23 existing cities which had remained unsold as there were no bids.

As in the first stage, the e-auctions will be conducted by C1 India Private Ltd and the process will commenced on 20 June with the notice inviting applications (NIA).

The last date for submission of Applications is 1 August 2016 by 5:00 pm. This will be followed on 16 August with the publication of ownership details of applicants. The Bidder Ownership Compliance Certificate will be issued on 22 August 2016.

The Pre-Qualification of Bidders will be done by 1 September 2016 or completion of requisite formalities whichever is later, followed four to five days later by a Mock Auction.

The main auction will start four days after the mock auction.

The first payment of 25 per cent of the Successful Bid Amount will be made within five calendar days, and the remaining within 15 calendar days of the close of the Auction and notification of successful bidders by the Government.

The e-auction of the first batch of private FM radio phase-III comprising 135 channels in 69 Phase-II existing cities commenced on 27 July and was completed on 9 September after 125 rounds of bidding. Out of these, no bid was received in 13 cities having 26 channels, and partial bids were received in 9 cities with 12 channels remaining unsold.

However, he told Parliament on 4 December 2015 that the Ministry had received the full payment of Rs.1055.9 crore notified on 16 September by 1 October.

Against the cumulative reserve price of Rs.550.18 crore for 135 channels, the government received aggregate provisional commitment of Rs.1156.9 crore for 97 channels in 56 cities. Out of 97 channels, 53 channels in 35 cities were sold at a premium over reserve price whereas 44 channels in 21 cities were sold at reserve price.

The Ministry had decided to conduct e-auction of FM Radio Channels in batches under the extant FM Phase-III Policy.