The Ministry of Information and Broadcasting (MIB) has come out with a memorandum (pdf) for phase III auctions of 135 FM radio channels in 69 cities in India. The proposed auction process, according to PTI, is expected to add an estimated revenue of over Rs 550 crore to the national exchequer on successful auctions of all proposed channels. We look at some of the guidelines for the auctions: Pre-qualification process -The government says that prospective bidders will need to submit an application with a non-refundable processing fee of Rs 25,000 to the information and broadcasting ministry through a demand draft. -The government will hold a pre-bid conference on 28th January and the final date for submission for applications will be three weeks after the conference. The bidders will also have to submit and Earnest Money Deposit (EMD) along with their…
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