94 channels become provisional winning channels in FM auction

At the close of 22nd day of bidding today in the e-auctions for channels under the first batch of private FM Radio Phase III, 94 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1136.6 crore.
In a statement released here, the Union Information and Broadcasting ministry said the aggregate reserve price of these channels was about Rs 459 crore.
Four rounds of bidding took place and till now, 88 rounds of bidding are over.
The ministry also said that the summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 94 channels by Rs 677.7 crore or 147.7 per cent.

Overall, cumulative provisional winning price exceeded the total reserve price of the first batch that is Rs 550.18 crore by Rs 586.4 crore or 106.5 per cent, it added.
The Auction for the first batch comprising 135 FM Channels in 69 existing cities of Phase II began on July 27th, 2015. The channel allocation stage will continue till the bids are received for any of the 135 channels, the ministry said.