The long awaited e-auction of more than 800 additional FM channels in almost 300 Indian cities started on 27 July 2015.
E-Auction of the First Batch of Private FM Radio Phase III commenced on 27th July 2015 at 09.30 A.M. and during the day, four rounds of bidding took place. 135 FM Channels in 69 existing cities of Phase II have been put on auction in the first batch. At the close of first day of bidding, 78 Channels in 54 cities became Provisionally Winning Channels with cumulative provisional winning price of around Rs 395 Crore against their aggregate reserve price of about Rs 357 crore.
The Auction began today with Auction Activity Requirement set at 80%. Total 26 bidders were allowed to participate in the auction. The ongoing auction is a Simultaneous Multiple Round Ascending (SMRA) e-auction which is being conducted online from Auction Control Room No. 404 B Wing, Shastri Bhawan.
Daily auction report for day one of e-Auction has been put on MIB website, www.mib.nic.in. Bidding will re-commence tomorrow on 28th July, 2015 at 09.30 AM.
(Press Information Bureau, Government of India, Ministry of Information & Broadcasting)