FM Radio Auction: 45 channels receive no bids, 15% cap could be reason for the lesser bids
Two weeks after the beginning of the third phase of FM radio auctions, out of 135 channels put up for auction, 45 channels received no bidding at all. However, the cumulative bids have reached as high as Rs. 1000 crore compared to the reserved price of Rs. 407 crore. According to a senior official in the industry, it is the cap that restricts broadcasters from bidding more than 15 percent... Read More