Top Story


Home >> Media - Radio >> Article

Music Broadcast Ltd. IPO to open on March 6

Font Size   16
Music Broadcast Ltd. IPO to open on March 6

Music Broadcast Ltd has launched an initial public offering at a price band of Rs 324-333 per equity share.

The offer, of equity shares of face value of Rs 10 each, opens on Monday, March 6 and closes on March 8, 2017.

Bids can be made for a minimum of 45 equity shares and in multiples of 45 equity shares thereafter. 

ICICI Securities is the book running lead manager for the offer. The shares would be listed on the BSE and NSE.

Music Broadcast Limited, promoted by Jagran Prakashan Limited, operates radio stations under the brand Radio City. Radio City is the first private FM radio broadcaster in India. It has grown its presence from four cities in 2001 to 37 cities as on February 15, 2017. These radio stations include Bengaluru, Mumbai, Delhi, Chennai, Pune, Hyderabad, Ahmedabad etc. The company acquired 11 additional radio stations, is present in 12 out of the top 15 cities in India by population.

As on March 31, 2016, its radio stations reached out to over 49.60 million listeners in 23 cities covered, the company said. For the six month period ended on September 30, 2016, Music Broadcast Limited generated a total revenue of Rs 1,382.13 million (Rs 138.2 crore).

Baba Ramdev brought his sharp wits for an interview with e4m where he promised to disrupt more markets and spoke about he the way he created a brand through consistent and selfless work

GroupM is in talks with several digital clients currently with its other agencies to shift them to Essence, which is looking at a major expansion plan in 2018

Thomas, Chief Marketing Officer, Diageo India, gives us a peek into the marketing strategy for McDowell’s No 1 Soda, its creation of ‘No 1 Yaari Jam,’ their own set of 4Ps and importance of content

NewsCode, a hyper local online news platform was launched last night with a network of over 350 local reporters in Karnataka and Jharkhand. Apurv Swarup, the co-founder talked to Exchange4Media about his vision

Voot, which is producing almost 4X content on an overall basis on the reality drama, is gunning for big numbers both on viewership and advertising revenue

YouTube today released its annual year-end edition of the YouTube Ads Leaderboard 2017 capturing the most celebrated ads that received maximum views, shares, and love from audiences across India

Real world study of Appier's network shows significant benefits of AI over traditional rule-based systems