Govt mops up Rs 99 cr in FM bidding

The Govt received a total of 116 bids for 68 radio stations in western India, mopping up Rs 99 crore as one time entry fee.

The Government on Friday received a total of 116 bids for 68 radio stations in western India, mopping up Rs 99 crore as one time entry fee.

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Today was the fourth round of the five round FM radio bidding as part of the second phase where the government is selling a total of 338 radio stations across 91 cities.

In the first three rounds the government has been assured of revenues of around Rs 640 crore where it sold 164 radio stations of the 206 which were put on block.

Anil Ambani-controlled Adlabs and Sun group's South Asia FM were among the companies cornering most of the licenses.