Regulators

Day 26: Jodhpur joins Rs 10 crore club, cumulative price crosses Rs 1150 crore in FM Phase III

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NEW DELHI: With Jodhpur joining Varanasi in the Rs 10 core+ cities and the attention zeroing in on other cities racing to this mark, the cumulative winning price at the end of the 104th round on the 26th day raced up to Rs 1151.6 crore in the e-auction for the first batch of FM Phase III cities.

 

One channel in Guwahati fetched a price of Rs 4.11 crore as against its reserve price of Rs 37 lakh, registering a rise of almost 980 per cent. A few days earlier, Bhubaneswar had also set a record with a single channel getting the most competitive bidding increment-wise by going up nine times the reserve price.  

 

However, there is no increase for almost a week in the number of provisional winning channels and cities - 94 channels in 56 cities – though the total bids surpassed the cumulative reserve price by Rs 692.7 crore or 150.9 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 601.4 crore or 109.3 per cent.  

 

While Varanasi marched higher to Rs 14.94 crore and Jodhpur showed an increase to Rs 10.79 crore, Kohlapur was static with Rs 9.44 crore. Others in the waiting for entry to the Rs 10 crore club appear to be Kanpur, Rajkot, Amritsar and Aurangabad, all of which have got above Rs 6 crore each. 

 

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.

 

However, there were still no bids for 13 cities namely 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 100th round in Hyderabad.

 

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

 

The winning price has risen by more than 100 per cent above their respective reserve prices in Ahmedabad, Amritsar, Aurangabad, Bengaluru, Bhubaneshwar, Chennai, Delhi, Guwahati, Jaipur, Jodhpur, Kolhapur, Mumbai, Nasik, Patna, Pune, Rourkela and Varanasi, all of which got provisional winning bidders at prices more than double the respective reserve prices.

 

The provisional winning price in the top three cities reflected no change: Delhi at Rs 169.16 crore (for just one channel); Mumbai at Rs 122.81 crore (for two channels); and Bengaluru at Rs 109.25 crore.

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