Music Broadcast Ltd IPO: You Must Know

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Music Broadcast Limited is the first private FM radio broadcaster in India operates under the brand name Radio City. Music Broadcast Ltd is planning to launch initial Public offering (IPO). The tentative size of the IPO is 488.53Crs. The IPO might open on 6 March, 2017.

Highlights:

  1. Music Broadcast Limited is the first private FM radio broadcaster in India operates under the brand name Radio City.
  2. Tentative size of the IPO is 488.53Crs.
  3. Issue Price: Rs.324 – Rs.333 per Equity Share

Music Broadcast Ltd IPO: You Must Know

  1. Music Broadcast Ltd Profile:

  • It was incorporated in year 1999.
  • It is the first private FM radio broadcaster in India.
  • It operates in India, under the brand name of Radio City.
  • Till 25 November,2016 company is having radio stations operational in 29 cities.
  • Out of 29 cities, Radio city operates in 12 top cities of India like Delhi, Mumbai, Chennai etc.
  • It is the subsidiary of Jagran Prakashan Limited.
  1. Music Broadcast Ltd working:

  • Music Broadcast Limited is the first private FM radio broadcaster in India.
  • 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.
  • Music Broadcast Limited also operates 31 Web radio stations that offer Internet radio with live RJ hosted shows through Planet Radio City in 6 languages with a listenership of 12.20 million.
  1. Objective of the Music Broadcast Ltd IPO:

    Redemption of Listed NCDs;
    Early redemption of the JPL NCDs and repayment / pre-payment of JPL ICDs
    General corporate purposes.

  1. Promoter of the Music Broadcast Ltd IPO:

         There is only one promoter of the company that is JPL (Jagran Prakasha Ltd).

  1. Music Broadcast Ltd IPO tentative Details:
  1. Issue Opens on: 06 March 2017
  2. Issue Closes on: 08 March 2017
  3. Issue Type: Book Built Issue IPO
  4. Issue Size: 14,670,530 Equity Shares
  5. Face Value: Rs 10 per Equity Share
  6. Issue Price: Rs.324 – Rs.333 per Equity Share
  7. Market Lot: 45 shares
  8. Listing At: NSE, BSE
  1. Tentative Category wise distribution of Music Broadcast Ltd IPO:
  • Anchor – 4,401,159 Shares = 146.56Crs.
  • Net QIB – 2,934,106 Shares = 97.71Crs
  • NII – 2,200,580 Shares = 73.28Crs
  • RII – 5,134,685 Shares (1,14,104 Forms) = 170.99Crs. (Lot size = 45)
  • Total Issue – 14,670,530 Equity Shares = 488.53Crs.
6.      Radio City IPO Prospectus

          Draft Prospectus

  1. Registered Address of the Music Broadcast Ltd:

5 th Floor, RNA Corporate Park,
Off Western Express Highway,
Kalanagar, Bandra (East) Mumbai 400 051

  1. Lead Manager to the IPO:

 ICICI Securities Limited

  1. Registrar to the Music Broadcast Ltd IPO:

Karvy Computershare Private Limited
Karvy House, 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad – 500 034
Andhra Pradesh, India

Visit Money Dial for more updates On Initial Public offering.

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