Regulators

FM Phase III Day 10: Bengaluru provisional price crosses Rs 100 crore

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NEW DELHI: On the tenth day of FM Phase III bidding, Bengaluru became the second city along with Delhi to cross the Rs 100 crore figure even as the cumulative provisional winning price touched Rs 946 crore against their aggregate reserve price of about Rs 425 crore at the end of 40 rounds.

A total of 86 channels in 56 cities became provisionally winning channels with cumulative provisional winning price. Thus the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 86 channels by Rs 521.45 crore or 122.7 per cent.

Overall, the cumulative provisional winning price exceeded the total reserve price of the first batch of 135 FM channels in 69 existing cities is Rs 550.18 crore by Rs 396.15 crore or 72 per cent.

The Auction Activity Requirement was raised to 90 per cent after the 37th round after being at 80 per cent from the beginning of the auction. 

The 13 cities for which no bids have come in 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 per cent in Jaipur and Nasik and just one in Amritsar, Bengaluru, Chandigarh, Chennai, Cochin, Delhi, Hisar, Mumbai, Patiala and Pune.

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 144.27 crore (for just one channel), followed by Bengaluru at Rs 104.99 crore, which had a quantum jump and Mumbai at Rs 93.21 crore showing marginal increase compared to yesterday.

Among cities recording more than Rs 10 crore, it rose sizeably in Jaipur at Rs 23.27 crore and marginally in Chennai at Rs 42.50 crore, Pune at Rs 35.14 crore, Patna at Rs 17.89 crore, Chandigarh at Rs 17.24 crore and Cochin at Rs 11.40 crore.

Thus Mumbai is the only city, which may soon cross the Rs 100 crore figure, besides Delhi and Bengaluru.

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

The next round of auctions will now take place on Monday, 10 August. 

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