The e-auction for the first batch of 135 channels in 69 cities as part of the private FM Radio Phase III expansion commenced with four rounds of bidding taking place on the first day.
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.
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The Auction began 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.
Daily auction report for day one of e-Auction has been put on MIB website, www.mib.nic.in.
