The e-auction for Private FM radios for Phase III expansion is becoming more intense with bidding amounts exceeding the reserve prices, according to sources from Ministry.

Out of the 135 channels in the first phase, a Delhi-based single FM channel has reached Rs. 105. 23 crore at the end of Round 20 of bidding, more than three times its reserve price of Rs 31.42 crore. At the close of 5^th day of bidding, 80 channels in 55 cities had become provisionally winning channels with cumulative provisional winning price of around Rs. 714 crore, compared to its aggregate reserve price of about Rs 391 Crore. The combined reserve price of 135 channels is Rs 550.18 crore.

Also read: Govt to auction 831 radio channels for FM radio service

“The process is such that several details including the identities of the parties which are bidding cannot be known till the process is complete. However, from the trends it is clear that the radio auctions would earn sizeable revenue and also demonstrate what the market value of these channels is,” an official said.

However, channels in South India and North East show a slower pace, which the Ministry expects to gain similar growth in the following days.