The Ministry of Information and Broadcasting has invited applications from prospective bidders for the e-auction of the third batch of Private FM Radio Phase-III channels.
The notice has been issued for the rollout of 730 Private Radio channels in 234 uncovered new cities in India.
As per the government, the Annual License Fee of FM channels in these cities shall be charged as 4% of Gross Revenue excluding GST.
Furthermore, the reserve price for the auction of channels in these cities is as per the TRAI recommended prices of 2022. The last date for submitting applications is November 18, 2024.
Also Read: Cabinet Approves Rolling Out Private FM Radio To 234 New Cities
Based on the applications, the government shall pre-qualify applicants who meet the eligibility criteria for participation in the auction, the notice clarified. Also, the auction is scheduled to take place four to five days after the mock auction.
Further, the successful bid amount must be paid in two parts- the first 25% within five calendar days, and the remaining within 15 calendar days of the close of the auction and notification of successful bidders by the government.
Meanwhile, the detailed auction rules will be published separately.
Previously, in August, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the proposal for the conduct of the third batch of ascending e-auctions for 730 channels in 234 new cities with an estimated price of Rs 784.87 crore under the Private FM Radio Phase III Policy.
