Regulators

Day 31: All top winning cities show bids lower than clock round price in FM Phase III

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NEW DELHI: There was virtually no activity on the 31st day in the FM Phase III e-auctions with the cumulatve winning price at the end of the 124th round rising by just Rs 10 lakh to Rs 1156.9 crore.

The smaller 31 cities that have so far got bids of Rs 1 - Rs 9 crore will call the shots as there appear to be no bidders for the larger cities.

The overall cumulative provisional winning price has risen over the total reserve price of the first batch of 135 FM channels in 69 existing cities - Rs 550.18 crore – by Rs 606.72 crore or 110.27 per cent.  

However, apart from the fact that 13 cities have not got a single bidder despite a month having passed, it is interesting that all the cities whose prices have remained static for a long period have in fact got bids lower than the clock round price (given in brackets in each case): Delhi – Rs 169.16 crore (Rs 170.86 crore) for one channel; Mumbai – Rs 122.81 crore (Rs 124.04 crore) for two channels; and Bengaluru - Rs 109.25 crore (Rs 110.34 crore). 

The same also stands true for other cities having got bids of more than Rs 10 crore namely: Chennai at Rs 53.38 crore (Rs 53.92 crore), Ahmedabad at Rs 42.68 crore (Rs 43.11 crore), Pune at Rs 42.03 crore (Rs 42.45 crore), Jaipur at Rs 28.34 crore (Rs 28.63 crore), Chandigarh at Rs 19.04 crore (Rs 19.23 crore), Hyderabad at Rs 18 crore (Rs 18.18 crore), Patna at Rs 17.89 crore (Rs 18.07 crore), Varanasi at Rs 17.49 crore (Rs 17.66 crore), Cochin at Rs 15.04 crore (Rs 15.80 crore), Nasik at Rs 14.66 crore (Rs 14.80 crore), Lucknow at Rs 14 crore (Rs 14.14 crore) and Jodhpur at Rs 11.44 crore (Rs 11.55 crore). 

The number of channels remained the same - 97 channels in 56 cities, and the bids showed a minor rise in the cumulative reserve price by Rs 697.05 crore or 151.58 per cent against the aggregate reserve price of about Rs 459.8 crore. The Percentage Price Increment applicable for the Next Clock Round remained nil in all cities. 

Cities expected to enter the Rs 10 crore club in the next few days appear to be Jodhpur, Kanpur, Rajkot, Amritsar, Madurai, and Aurangabad which have all got above Rs 6 crore each.

The 13 cities eluding bidders are 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 124th round in Hyderabad.

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.

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