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The online auctions for 730 FM radio channels in 234 cities across the country are scheduled to start on July 9, according to the Ministry of Information and Broadcasting.

"E-auction of third batch of Private FM Radio Phase III channels will tentatively start on 9th July, 2025 (Wednesday) from 0930 hours onwards," the Ministry said in a notification, dated July 4.  

As many as 19 companies from across the country are listed as pre-qualified bidders for the auction.

The pre-qualified bidders are Ahalia Healthcare Ltd, AM Television Pvt Ltd, DB Corp Ltd (Radio Division), Eastern Media Ltd, HT Media Ltd, JCL Infra Pvt Ltd, KAL Radio Ltd, Lohchab Motor Company Pvt Ltd, Madhuresh Publications Pvt Ltd, Malar Publications Ltd, Pindari Media Entertainment Pvt Ltd, Rajasthan Patrika Pvt Ltd, RLFE Pvt Ltd, SantaMonicaTours and Travels Pvt Ltd, Sapphire Media Ltd, Setwell Coatings India Pvt Ltd, South Asia FM Ltd, The Malayala Manorama Co Pvt Ltd, The Mathrubhumi Printing and Publishing Co Ltd. 

The auction could expand the reach of private radio in one of the world’s largest media markets. 

Read more: <a href="https://www.storyboard18.com/digital/auction-for-730-fm-radio-channels-across-234-indian-cities-to-begin-this-month-72917.htm">Auction for 730 FM radio channels across 234 Indian cities to begin this month</a>


The auction marks the third phase of India’s push to expand private FM broadcasting. In August, the cabinet, led by Prime Minister Narendra Modi, approved the plan to auction 730 channels in 234 cities with a reserve price of 7.85 billion rupees. The Ministry of Information and Broadcasting began inviting applications in October.

In preparation for the auction, the ministry revised its rules in April, extending the duration of each round in the allocation stage from 30 to 60 minutes. Officials say the change is designed to give bidders more time to consider their offers, potentially leading to more efficient price discovery.

The expansion comes as the private FM radio sector seeks new growth amid rising competition from digital streaming platforms and a fragmented advertising market. The government hopes the auction will encourage broader participation and investment in local radio, particularly in smaller cities where FM remains a critical source of news and entertainment.

Recently, I&B Secretary Sanjay Jaju said more than 20 major companies have shown interest in bidding for the licenses under the government’s Private FM Radio Phase III policy. “There are a lot of gains being made now in terms of private FM radio; the auctions are slated to start this month, and I am sure they will see good participation."

E-auction of third batch of Private FM Radio Phase III channels to start on July 9

The radio broadcasting industry in India has emerged as a surprise frontrunner in the media investment landscape for 2024, attracting ₹3,853 crore in Foreign Direct Investment (FDI) — its highest inflow since 2016. The figures, released in the Ministry of Information and Broadcasting’s Statistical Handbook on Media & Entertainment Sector 2024-25, mark a significant resurgence for the sector, which has been reinventing itself in a rapidly evolving audio ecosystem.

Overall, the Information & Broadcasting and Print Media sectors together secured ₹5,408 crore in FDI equity inflows in 2024, according to data published by the Department for Promotion of Industry and Internal Trade (DPIIT).

While the radio segment’s growth trajectory has turned heads, industry leaders are sounding the alarm on persistent structural challenges that could stifle future progress.

Sunil Kumaran, COO, BIG FM said, “The strong rebound in FDI can largely be attributed to the sector’s strategic pivot over the last few years. There’s been a significant shift from being just a radio broadcaster to becoming a holistic audio entertainment brand. The diversification into digital audio platforms, podcasts, on-ground events and influencer-driven content has opened new revenue streams and audience segments." 

Kumaran noted, "What also worked in the industry's favour was its deep hyperlocal connect, especially in tier 2 and tier 3 markets, something brands are actively looking to tap into. The emergence of multi-platform content strategies, where brands engage with audiences across radio, digital and social, also played a key role. This combination of stable cash flows from traditional radio and new growth areas like digital and branded content created a compelling case for investors.”

Talking about challenges faced by the sector, Kumaran added, "Measurement remains a key issue and we need more robust and inclusive metrics that reflect true listenership across cities and formats. Distribution, especially in digital, needs better infrastructure support. There are also policy bottlenecks that need attention, streamlining licensing and enabling smoother transitions to newer formats like digital radio. Ad rate correction is another area of concern; radio still delivers high impact and the rates need to reflect that value more fairly.” 

<a href="https://www.storyboard18.com/how-it-works/indias-ib-sector-draws-%E2%82%B95408-cr-fdi-in-2024-radio-rebounds-strongly-65661.htm">Read More: India’s I&B sector draws ₹5,408 cr FDI in 2024, Radio rebounds strongly</a>

Another veteran from radio industry suggested, “Growth of radio industry depends on the pace of policy that the government adapts. The sustained momentum will require further policy support and innovation in distribution and management. It is important that the government rolls out policies in consultation with the stakeholders to make it more robust and to enhance growth of the sector.” 

Ashit Kukian, Chief Executive Officer, Radio City said, “As we head into 2025, it’s clear the radio industry is standing at the cusp of a transformative era. The rollout of digital radio in 13 Indian cities is not just a tech upgrade but a chance to reimagine how we connect with listeners. With better sound quality, improved spectrum efficiency, and features like real-time traffic updates and visual content, digital radio opens up exciting new possibilities. That said analog radio still plays a vital role, especially across India’s cores. The future is about creating harmony between both.” 

Kukian said, “One of the most exciting shifts is how AI and automation are helping us personalize listener experiences. From intelligent playlists to dynamic ad formats, the medium is using data to understand moods, moments, and preferences. And the industry results show—radio ad volumes per station jumped by 80% in 2024 over 2020, with an 18% rise in Q4 alone compared to Q2, according to TAM AdEx. That’s not just growth; it’s renewed confidence in radio’s potential.”

Despite the optimism, a senior radio executive cautioned that the pace of policy evolution will dictate the long-term trajectory of the sector. “Sustained momentum will depend on whether the government acts in consultation with stakeholders to address licensing, distribution, and digital migration concerns.”

In sum, while India's radio broadcasting sector is experiencing a revival powered by investor confidence and tech-driven innovation, the road ahead hinges on policy support, fair valuation, robust measurement frameworks, and infrastructure upgrades — without which the industry’s growth story may face static.

<a href="https://www.storyboard18.com/how-it-works/ministry-of-i-19-bidders-pre-qualified-71714.htm">Read More: Ministry of I&B to hold mock e-auction on June 30 for 730 FM radio channels; 19 bidders pre-qualified</a>

<a href="https://www.storyboard18.com/how-it-works/the-2025-rollout-of-digital-radio-broadcasters-send-mixed-signals-51790.htm">Read More: The 2025 rollout of Digital Radio: Broadcasters send mixed signals</a>

Policy paralysis could stall India’s Radio revival despite ₹3,853 cr FDI boost

The Ministry of Information and Broadcasting (MIB) has announced that a mock e-auction for 730 FM radio channels across 234 cities will be conducted on June 30, 2025, as part of the ongoing Phase-III Batch-III expansion of private FM radio services.

A total of 19 applicants have been pre-qualified to participate in the upcoming auctions. These include leading broadcasters such as DB Corp, HT Media, Rajasthan Patrika Pvt Ltd, Malar Publications, Sapphire Media Ltd, Malayala Manorama, and Mathrubhumi Printing and Publishing, alongside new entrants such as Lohchab Motor Co., Santamonica Tours & Travels, and Setwell Coatings India.

The mock auction will be conducted by MSTC Ltd., the designated auctioneer, using the Simultaneous Multiple Round Ascending (SMRA) format. This preparatory round aims to help participants familiarise themselves with the online bidding system, including the use of Class 3 Digital Signature Certificates (DSC), static IP configuration, and round-wise bid submissions.


Read more: <a href="https://www.storyboard18.com/how-it-works/mib-extends-bidding-round-duration-in-fm-phase-iii-e-auctions-to-boost-participation-61978.htm">MIB extends bidding round duration in FM Phase III e-auctions to boost participation</a>



The auction is a key part of the government’s push to expand private FM radio coverage in India and enable greater regional content dissemination. Successful bidders will eventually be allotted 15-year licenses upon completion of the formal bidding process.

The bidders have been shortlisted based on their Earnest Money Deposit (EMD) and Initial Eligibility Points (IEP). DB Corp’s Radio Division lead the list with the highest EMD of Rs 8 crore and 3,200 eligibility points, followed by other contenders including Sapphire Media (Rs 7 crore EMD, 2,800 points), Hello FM parent Malar Publications (Rs 4.31 crore, 1,723 points), FM Tadka of Rajasthan Patrika (Rs 4 crore, 1,600 points), and HT Media (Rs 3.75 crore, 1,500 points), for Fever FM and Radio Nasha.

In October last year, the Ministry invited applications for e-auctions to allocate 730 channels across 234 uncovered cities under the third batch of FM Phase-III radio channels. In August 2024, 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.

It was informed then that 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.


Read more: <a href="https://www.storyboard18.com/how-it-works/radio-players-conservative-bid-in-third-batch-of-phase-iii-fm-e-auctions-50871.htm">Radio players' conservative bid in third batch of phase-III FM e-auctions</a>


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).


In April this year, the Ministry issued Amendment No. 1 to the Auction Rules (dated November 27, 2024) for Private FM Radio Batch III channels e-auction under Phase III. As per the new amendment, issued on April 9, the Ministry has extended the duration of each round in the Rank-wise Multiple Rounds allocation stage from 30 minutes to 60 minutes. This change aims to provide bidders with more time per round during the allocation stage, potentially facilitating a more considered bidding process.


Read more: <a href="https://www.storyboard18.com/how-it-works/mib-to-conduct-e-auctions-for-fm-radio-channels-reserve-price-set-at-rs-784-87-crore-45012.htm">MIB to conduct E-auctions for FM Radio Channels, reserve price set at Rs 784.87 Crore</a>



​The Ministry initiated the third batch of e-auctions under Phase III of the Private FM Radio policy, aiming to expand FM radio services to 234 previously uncovered cities by offering 730 new channels. The FM Phase III policy, approved by the Union Cabinet in 2011, seeks to enhance the reach of private FM radio across India. The first two batches of auctions, conducted in 2015 and 2016, resulted in the allocation of 163 channels across 104 cities. The current third batch focuses on cities that have not yet received private FM services, aiming to promote local content, generate employment, and provide diverse entertainment options. ​

Storyboard18 earlier reported that the third batch of phase-III FM e-auctions hasn't found many enthusiastic participants because of high reserve prices and the 9-year long hiatus. Many radio players will likely limit spending to 10% of previous levels.

Read more: EXCLUSIVE: <a href="https://www.storyboard18.com/how-it-works/radio-sector-demands-de-linking-notef-gst-revision-and-mandate-for-radio-on-mobile-37232.htm">Radio sector demands de-linking NOTEF, GST revision, and mandate for 'radio on mobile'</a>


Ministry of I&B to hold mock e-auction on June 30 for 730 FM radio channels; 19 bidders pre-qualified

The National Company Law Tribunal (NCLT), Division Bench II, Chennai, has approved the Scheme of amalgamation of Udaya FM Private Limited with Kal Radio Limited. The approval, granted under Sections 230 and 232 of the Companies Act, 2013, was issued on March 21, 2025, and communicated to the Company on April 1, 2025.    

The amalgamation was approved to create synergies between the FM radio broadcasting businesses of the two companies. This includes pooling financial, managerial, technical, distribution, and marketing resources, which is expected to reduce costs, improve operational efficiency, and enhance competitiveness. Sun TV Network's Kal Radio Limited had filed an affidavit of service before the Registry of NCLT on 21.10.2024.  

The NCLT order also addresses the transfer of assets and liabilities, ensuring that all properties, rights, and powers of Udaya FM Private Limited will be transferred to Kal Radio Limited.    

Under the terms of the approved scheme, Kal Radio Limited, the Transferee Company and a subsidiary of Sun TV Network Limited, will issue equity shares to the shareholders of Udaya FM Private Limited. Specifically, 41,965 fully paid-up equity shares of INR 10 each in Kal Radio Limited will be allotted for every 10,000 equity shares held in Udaya FM Private Limited.    

The amalgamation will be accounted for in accordance with Indian Accounting Standard 103 (Business Combinations).  Employees of Udaya FM Private Limited will be transferred to Kal Radio Limited without any interruption in service, maintaining their current terms and conditions.  Udaya FM Private Limited will be dissolved without winding up as part of the amalgamation.    

The tribunal observed that, "After analyzing the Scheme in detail, this Tribunal is of the considered view that the scheme as contemplated amongst the petitioner company seems to be prima facie beneficial to the Company and will not be in any way detrimental to the interest of the shareholders or creditors of the Company.  In view of the absence of any other objections having been placed on record before this Tribunal and since all the requisite statutory compliances have been fulfilled, this Tribunal sanctions the Scheme of Amalgamation."   

The certified copy of the NCLT order is awaited and will be delivered to the Registrar of Companies for registration within thirty days of receipt. 

Sun TV Network’s Kal Radio gets NCLT approval for Udaya FM amalgamation

The TV Today Network in its board meeting on January 9 received approval from its Board of Directors to shut its radio business. The network comprises of three FM radio stations in Mumbai, Delhi and Kolkata under the frequency 104.8 FM. 

In its regulatory filing, TV Today Network informed the exchanges that the turnover of Radio Business in FY 2023-24 was Rs. 16.18 Crores which is 1.70% of total turnover of T.V. Today Network Limited for the said year. The net worth contributed from Radio Business is reported to be loss of Rs. 19.53 Crores for the FY 2023-24.

<strong>Read More:</strong> <a href="https://www.storyboard18.com/how-it-works/radio-industry-urges-trai-to-adopt-drm-only-technology-for-digital-broadcasting-52737.htm">Radio industry urges TRAI to adopt DRM-only technology for digital broadcasting</a> 

TV Today Network cited losses and state of radio industry in the country behind the reason of shutting down its radio business. "Given the state of industry, its dynamics and evolution of FM Radio Broadcasting business, the Board of Directors considered it in better interest of the Company to close this business instead of continuing the same." 

<strong>Read More:</strong> <a href="https://www.storyboard18.com/how-it-works/radio-industry-urges-for-subsidies-phased-manner-transition-to-digital-radio-adoption-52744.htm">Radio industry urges for subsidies, phased-manner transition to digital radio adoption</a> 

Breaking: TV Today Network to shut its radio business in next six months

The Telecom Regulatory Authority of India (TRAI) will meet multiple stakeholders on January 8 for an Open House Discussion on Consultation Paper (CP) Formulating a Digital Radio Broadcast Policy for private Radio broadcasters. TRAI had released the CP on September 30 last year. 

TRAI received 43 comments and 13 counter comments. In order to develop an eco-system, which can facilitate deployment of digital radio broadcasting, TRAI suo-motu gave its recommendations on “Issues related to Digital Radio Broadcasting in India” on 1st February 2018. 

Multiple stakeholders including Association of Radio Operators for India(AROI), Federation of Indian Chambers of Commerce & Industry(FICCI), India Cellular & Electronics Association(ICEA), The National Chamber of the Radio and Television Industry(CIRT), Mercedes-Benz India Private Limited among others have shared their comments. 

Ministry of Information and Broadcasting vide its reference dated 23rd April 2024 has sought recommendations of TRAI on formulating a digital radio broadcast policy for private Radio broadcasters. MIB has mentioned that in order to cater to technology shift, some existing provisions under FM Phase-III policy may require a relook.  MIB has also highlighted certain issues that may be considered while formulating recommendations for digital radio broadcast policy.

TRAI had also emphasized that the government should come out with a detailed policy framework for Digital Radio Broadcasting in India, which should provide detailed roadmap for rollout of digital radio broadcasting services in a time bound manner.

At present, analogue terrestrial radio broadcast in India is carried out in Medium Wave (MW) (526–1606 KHz), Short Wave (SW) (6–22 MHz), and VHF-II (88–108 MHz) spectrum bands. VHF-II band is popularly known as FM band due to deployment of Frequency Modulation (FM) technology in this band. All India Radio (AIR) - the public service broadcaster - provides radio broadcasting services in MW, SW and FM bands. Private sector radio broadcasters are licensed to transmit programs in FM frequency band (88-108 MHz) only.

Digital Radio broadcasting will provide a number of advantages over analogue radio broadcasting. The major advantage of Digital Radio broadcasting is capability of broadcasting three to four channels on a single frequency carrier, while ensuring excellent quality of audio for all the channels, whereas in the analogue mode only one channel broadcasting is possible on a frequency carrier. In a competitive environment, digital radio broadcasting can provide exciting new opportunities to radio broadcasters as well as a host of value-added-services to the listeners.

All India Radio (AIR) has initiated digitization of its analogue MW and SW radio broadcast network and replaced its existing 38 analogue transmitters with digital transmitters. AIR has conducted trials for digital radio technologies in FM band also. However, any initiative in digitization of FM band by private FM radio broadcasters is still awaited.

TRAI to hold OHD on 8 Jan for formulating Digital Radio Broadcast Policy

In a conference hosted by the India Cellular and Electronics Association (ICEA), in collaboration with the Association of Radio Operators for India (AROI), MIB Secretary Sanjay Jaju emphasized on "light-touch" regulation for the Radio industry. The government plans to roll out digital FM radio broadcasting in 13 major cities, marking a key step toward modernizing the sector.

Jaju highlighted underscored the role of localized content in strengthening radio’s appeal and fostering innovation. In September, a consultation paper was released to gather input from stakeholders, including broadcasters, equipment manufacturers, and digital receiver producers, to develop a comprehensive policy for private digital radio.

Jaju said, "Light touch regulations will enable innovative content creation and deeper listener engagement, empowering India's creators. Radio derives its strength from localised content choice embracing diverse community interests and cultural preferences."

Industry leaders stressed the importance of adopting proven, non-disruptive digital technologies to enhance efficiency and unlock opportunities in India’s culturally diverse market. The adoption of technologies like HD Radio is seen as pivotal in positioning India as a global hub for digitally-enabled device manufacturing, boosting exports to markets like the Americas. This transition aligns with India's vision of leveraging the creator economy to enhance its global influence.

Jaju also spoke about government’s aim to optimize spectrum use and address revenue challenges for private radio operators, MIB has increased base advertisement rates by 40% and is working on new growth opportunities.

MIB Secretary Sanjay Jaju also informed that the Frequency Planning Committee has identified channels for this rollout, with a focus on a smooth transition to digital radio. The shift will involve upgrades in transmission infrastructure and allow for both analogue and digital broadcasting through "simulcast" technology. 

Public consultations on a digital radio policy are ongoing, and FM spectrum auctions in 254 new towns and semi-urban areas have been approved. Over 20 companies have expressed interest in these auctions, which now feature simplified, revenue-linked licensing terms.


'Light regulations' for Radio industry will drive innovative content: Govt

The Government of India has approved a one-time special relaxation for automatic provisional empanelment for the successful bidders of Batch-III e-auction under the FM Policy (Phase-III). The Ministry of Information and Broadcasting is also considering extending the deadline for applications and giving more time for the e-auctions for the allotment of 730 channels across 234 uncovered cities under the third batch of FM Phase-III radio channels.

According to the government, this relaxation will be effective immediately from the date of operationalisation of their radio channels, providing provisional empanelment with the Central Bureau of Communications (CBC) for a period of six months, or until they become eligible for applying for empanelment with CBC under the existing 'Policy Guidelines for Empanelment of Private FM Radio Stations.'

During the provisional empanelment period, the base rate applicable to Private FM Radio stations for which no IRS (Indian Readership Survey) data is available will be applied.

This measure will provide immediate revenue benefits to radio operators in new cities, encouraging them to begin operations promptly. The step is expected to facilitate the faster rollout of Private FM Radio services in these cities, promoting better access to radio broadcasting services across the country.

This initiative is part of the Government's continuous efforts to improve the Ease of Doing Business in India and provide operational support to radio operators, thereby ensuring smoother business operations and a more conducive environment for growth in the broadcasting service.

The Ministry of Information and Broadcasting is also considering extending the deadline for applications and giving more time for the e-auctions for the allotment of 730 channels across 234 uncovered cities under the third batch of FM Phase-III radio channels.

The Notice Inviting Applications released last month by the ministry fixed November 15 as the deadline for submissions. 

However, many radio operators urged the government to extend the deadline to January 15, 2025, citing the time required for review and assessing the market of each town under auction.

Some operators also said that postponing the date of the actual auction to April would enable more budget allocation for auctions.

FM Radio phase III: Govt approves one-time relaxation for provisional empanelment

The Ministry of Information and Broadcasting (MIB) has extended the deadline for applications for the allotment of 730 FM radio channels under the third batch of Phase-III auctions. The new deadline for submission of applications is now December 9, 2024, providing radio operators with additional time to prepare their bids.

The extension follows requests from industry stakeholders, who had initially raised concerns about the tight timeframe set by the ministry. The original deadline for submitting applications was November 15, 2024. Several radio operators had urged the government to push the deadline to January 15, 2025, citing the need for additional time to assess market conditions and review the auction process in each of the 234 cities covered by this batch.

The ministry’s revised schedule also outlines key upcoming dates. The publication of ownership details for all applicants will take place on December 16, 2024. Bidders will need to submit their ownership compliance certificates by December 23, 2024. The pre-qualification process for bidders will occur on January 10, 2025, or as soon as all necessary formalities are completed, whichever is later.

Mock auctions are scheduled to take place 4-5 days after the pre-qualification, with the actual e-auctions set to begin just four days following the mock round.

Industry representatives had also suggested that delaying the actual auction until April 2025 would allow operators more time for budget planning and allocation, ensuring smoother participation in the process.

This extended timeline reflects the ministry’s efforts to accommodate the needs of potential bidders and ensure a more efficient and transparent auction process.

Deadline for FM Phase-III radio channel auctions extended to December 9

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).

RADIO