Top Story

e4m_logo.png

Home >> Media - Radio >> Article

Music Broadcast Ltd. IPO to open on March 6

27-February-2017
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).

Tags Music Broadcast Ltd IPO Jagran Prakashan Radio City

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale

Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity

Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.

CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps

In an exclusive data shared with e4m, Pan Masala/Zarda/Gutkha had the highest jump of 185 per cent in terms of ad volumes in the first 14 matches

Bose, who has a career spanning over two decades, was DNA’s Editor-in-Chief. He has previously been associated with the India Today Group

Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compe...