Regulators

Day 8: FM Phase III price touches Rs 869 crore; no bids yet in 13 cities

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NEW DELHI: Even though the cumulative provisional winning price touched around Rs 869 crore against their aggregate reserve price of about Rs 395 crore at the end of 32 rounds on the eighth day of bidding for FM Phase III, no bids have come in for as many 13 cities.

A total of 83 channels in 56 cities became provisionally winning channels after four more rounds today (5 August). Thus the summation of provisional winning prices exceeded the total reserve price of the first batch by about Rs 319.11 crore or 58 per cent. The total reserve price of the first batch of 135 FM channels in 69 existing cities of Phase III is Rs 550.18 crore.

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

The cities for which no bids have come so far are Asansol, Gulbarga, Mangalore, Mysore, Puducherry, Rajahmundry, Siliguri, Tiruchy, Tirunveli, Tirupati, Tuticorin, Vijaywada and Warangal.

The demand over the price in many cities fell by up to three per cent below the aggregate demand.

The Percentage Price Increment (in INR) applicable for the Next Clock Round was five in Bengaluru, Bhubaneswar and Jaipur.

The highest Provisional winning price – the same as the Clock round price at the start of the twenty-eighth round – was in Delhi at Rs 133.23 crore, followed by Mumbai at Rs 89.58 crore with both showing marginal increase compared to yesterday.

Among cities recording more than Rs 10 crore, it took a leap in Bengaluru at Rs 98.02 crore; and rose sizeably in Chennai at Rs 39.25 crore, Patna at Rs 17.04 crore; Jaipur at Rs 15.75 crore; and marginally in Chandigarh at Rs 16.57 crore and Cochin at Rs 10.52 crore.

Thus Bengaluru became another city, which may soon cross the Rs 100 crore figure.

On the other hand, Ahmedabad at Rs 42.68 crore, Pune at Rs 32.45 crore, Hyderabad at Rs 18 crore and Lucknow at Rs 14 crore remained static.

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