MIB to conduct E-auctions for FM Radio Channels, reserve price set at Rs 784.87 Crore

The Ministry of Information and Broadcasting has invited applications for e-auctions to allocate 730 channels across 234 uncovered cities under the third batch of FM Phase-III radio channels.

Earlier in August, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal to conduct the third batch of e-auctions for 730 channels in 234 new cities with an estimated reserve price of Rs 784.87 crore, under the Private FM Radio Phase III policy.

The ministry has now invited applications from prospective bidders who meet the eligibility criteria to submit their applications for auction participation. The deadline for application submission is November 18, 2024.

The auction will begin four days after the mock auction, and participants are required to make the first 25% payment within five calendar days, with the remaining balance due within 15 calendar days of the auction's conclusion and notification of successful bidders by the government.

Complete details regarding the Annual Fee are provided in Clause 6 of the FM Phase-III Policy Guidelines dated July 25, 2011, as amended from time to time.

Permission holders for a new FM radio channel in uncovered cities under the Batch-III FM Phase-III auction must pay an annual fee of 4% of the channel’s gross revenue for the financial year, excluding Goods and Services Tax (GST).