Published On : Wed, Jul 29th, 2015

FM Phase III Auctions: Nagpur sees 1 bids of Rs 5.4 crore at end of Day 2

NewDelhi/Nagpur: Day 2 of the first round of Phase III auctions saw non metros like Bhubhaneshwar, Chennai, Ahmedabad and Pune, continue their good run, with increased interest and high value bids.

The North-east region was quiet though Guwahati saw 3 bids for its single frequency, with the closing highest bid at Rs 53 lakh (approx). Lucknow saw a single bid for its 3 frequencies with the provisional winning bid at Rs 14 crore (approx).

Mumbai continued to be the favourite as the bid amount went up to excess of Rs 55 crore, up Rs 14 crore from the close of day one. Similarly, the highest bid for Delhi closed at Rs 48 crore. Both metros are highly sought after and have 5 bids each though the capital has just one frequency to Mumbai’s 2.

Bangalore, which had 3 bids at the end of Day 1, saw a 4th bid on Day 2, with the highest bid value increasing to Rs 30.39 crore. Jaipur was meanwhile static from Day 1, with 1 bid of Rs 7.2 crore.

Jodhpur is in the middle of a tussle with 2 bids for its 1 frequency and saw its bid amount rise marginally to Rs 1.78 crore. Kanpur still has to see more bids for its 3 frequencies and currently has 1 bid of Rs 8 crore.

It was good to see Jammu receiving 2 bids for its 3 frequencies, with the highest bid amount at Rs 1 crore. Since Big FM already operates out of Kashmir, it might not be too far-fetched to assume that it could be one of the interested parties. Srinagar saw 1 bid of Rs 61 lakh.

Nagpur saw one bid of Rs 5.4 crore. Patna saw a reduction of one bid as the total number of bids dropped to 3, though the highest bid amount increased to just under Rs 7 crore.