Regulators

Day 20: FM Phase III channels winning price rises marginally to Rs 1130 crore

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NEW DELHI: Bidding on the twentieth day in the e-auction for the first batch of FM Phase III cities with the cumulative provisional winning price remained very slow, showing a minuscule rise to touch Rs 1130.51 crore at the end of the 80th round.

The number of provisional winning channels and cities remained the same as yesterday: 94 channels in 56 cities, with the total bids surpassing the cumulative reserve price by Rs 671.65 crore or 146.3 per cent against the aggregate reserve price of about Rs 459 crore.

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 Rs 580.33 crore or 105.5 per cent.

The Auction Activity Requirement rose to 100 per cent after the 59th round on 14 August, after being 90 per cent after the 37th round on 7 August.

Bids continued to elude thirteen cities for the 20th 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 80th round in Hyderabad.

The Percentage Price Increment applicable for the Next Clock Round rose to five each in Allahabad, Guwahati, Shillong and Varanasi but was just one in Varanasi. There was no change in the other cities.

The provisional winning price in the top three cities reflected no change: Delhi at Rs 1.69.16 crore (for just one channel); Mumbai at Rs 122.81 crore (for two channels); and Bengaluru at Rs 109.25 crore.

Kohlapur appears to be the next to enter the Rs 10 crore club with Rs 9.44 crore, though cities like Kanpur, Rajkot, Amritsar and Aurangabad do not seem to be far behind. 

Chennai at Rs 53.38 crore, Ahmedabad at Rs 42.68 crore, Pune at Rs 42.03 crore, Jaipur at Rs 28.34 crore, Chandigarh at Rs 19.04 crore, Hyderabad at Rs 18 crore, Patna at Rs 17.89 crore, Cochin at Rs 15.04 crore and Lucknow at Rs 14 crore remained static.

The next round will now commence on 24 August.

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