Four more rounds of bidding took place of FM Radio e-auction

Four more rounds of bidding took place today for the e-auction of first batch of 135 Channels in 69 existing cities as part of the Phase III expansion of private FM Radio, the Information and Broadcasting ministry today said.
In a statement released here, the ministry added that at the close of third day 80 channels in 55 cities became provisionally winning channels with cumulative provisional winning price of around Rs 549 Crore against their aggregate reserve price of about Rs 377 Crore.
The statement said that the e-auction of the First Batch of Private FM Radio Phase III re-commenced today at 9.30 AM and during the day, four rounds of bidding took place.

Till now, 12 rounds of bidding are over. The first batch auction for 135 FM Channels in 69 existing cities of Phase II began on July 27th, 2015.
The Auction resumed today with Auction Activity Requirement set at 80 per cent, the ministry said. Bidding will re-commence tomorrow at the same time, it added.