Bangalore bid surges ahead of Mumbai on Day 8 of FM auction

As we were trying to figure out the reason behind the gap between Delhi and Mumbai bidding, comes another surprise – Bengaluru too has nudged Mumbai at the end of 32 rounds. At the end of Day 8, Delhi bid was Rs 1,33,23,17,342, Bengaluru Rs 98,02,16,503 and Mumbai 89,58,05,180.

At the close of the eighth day of bidding, 83 channels in 56 cities were provisionally winning channels, same as on Day seven. Cumulative provisional winning price for 83 channels was around Rs 869 crore against their aggregate reserve price of about Rs 395 Crore. Thus the summation of provisional winning prices exceeded the total reserve price of the first batch by about Rs 319.11 Crore or 58%.  Rs 550.18 Crore is the total reserve price of the first batch.

 The following Table summarizes first eight days of bidding: