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Radio Mirchi acquires 21 new licenses for Rs 51.3 crore

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Radio Mirchi acquires 21 new licenses for Rs 51.3 crore

Entertainment Network (India) Ltd, which operates radio stations under the brand name Radio Mirchi, announced yesterday that it has acquired licenses in 21 new cities in the second batch of Phase III auctions.

The total value of bids made by ENIL is Rs. 51.3 crore. These frequencies are expected to become operational towards the end of FY18, the company informed the BSE.

The cities include are Bhavnagar, Jamnagar, Junagadh, Mehsana, Bharuch and Palanpur in Gujarat, Akola and Amravati in Maharashtra, Tiruchirapalli and Tirunelveli in Tamil Nadu, Rajahmundry in Andhra Pradesh, Warangal in Telengana, Durg/Bhilai and Raigarh in Chhatisgarh, Hubli/Dharwad and Mysuru in Karnataka, Ujjain in Madhya Pradesh, Jhansi in Uttar Pradesh, Asansol and Siliguri in West Bengal and the Union Territory of Puducherry.

With these 21 cities, the core Mirchi brand will expand its footprint deeper into strategically important and fast growing cities and states. Its presence will increase from 43 to 64 cities in India.

"We are very excited with the results of the 2nd batch of auctions! Our 21 new cities give us depth in the most vibrant radio markets in the country. With this expansion, we'll have 74 frequencies in 64 cities. We look forward to expanding more in the future. However only if the government amends the policy and makes the smaller stations viable," said Prashant Panday, CEO of ENIL.

Earlier this month, Radio Mirchi announced that it has commenced operations from its radio station at Shillong (91.1 FM) acquired under Phase III auctions held last financial year.

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