e-auction: 58 channels became provisionally winning channels

At the close of the first day of e-auction of second batch of private FM Radio Phase III, 58 channels in 42 cities became provisionally winning channels with cumulative provisional winning price of around Rs 182 crore against their aggregate reserve price of about Rs 179.2 crore.
In a statement released today, the I&B ministry said total four clock rounds of bidding were completed today.
"E-Auction of the Second Batch of Private FM Radio Phase III Channels commenced today. During the day, four rounds of bidding took place," the ministry said.
As many as 266 FM channels in 92 cities comprising 227 channels in 69 fresh cities and 39 unsold channels from 23 cities of batch I of Ph-III have been put on auction in the second batch. The auction began today.

Total 14 bidders were allowed to participate in the auction, the ministry said.
The ongoing auction is a Simultaneous Multiple Round Ascending (SMRA) e-auction which is being conducted on line. States of Uttarakhand and Nagaland and border area towns of Poonch Mokukchung, Leh, Kathua, Kargil, Bhaderwa will have private FM channels for the first time, after these auctions.
Bidding will resume tomorrow at 9.30 AM.