In the e-auction of first batch of private FM Radio Phase III channels, four rounds of bidding took place yesterday. At the end of 22nd day of auction, 88 rounds of bidding has been completed. At the close of the 22nd day of bidding, 94 channels in 56 cities became provisional winning channels with cumulative provisional winning price of about Rs 1136.6 crore against their aggregate reserve price of about Rs 459 crore. <br/><br/>The summation of provisional winning prices surpassed the cumulative reserve price of the corresponding 94 channels by Rs 677.7 crore or 147.7 per cent. The Auction for the first batch comprising 135 FM Channels in 69 existing cities of Phase II began on 27th July.