Monday, February 27, 2017

Music Broadcast IPO to open on Mar 6th

Music Broadcast Limited is entering in the capital market with an initial public offering consist a fresh issue of up to Rs 400 crore and an offer for sale of 26,58,518 equity shares.
The price band for the issue has been fixed at Rs 324 at lower level and Rs 333 at upper level.

Music Broadcast Limited is the first private FM radio broadcaster in India operates under the brand name Radio City. The company  operates as a subsidiary of Jagran Prakashan Limited. Radio stations deliver film, non-film, devotional, regional, and international music, as well as radio jockey (RJ) hosted shows in Hindi, Tamil, Kannada, Malayalam, and Telugu languages.

The issue opens on Mar 06, 2017 and closes for subscription on Mar 08, 2017. The equity shares of the issue are proposed to be list on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).