The initial public offering of Music Broadcast Limited will be listed on both of the Exchange i.e. Bombay Stock Exchange and National Stock Exchange soon. An interested investor can get all relevant information about IPO such as Price Band and Dates, Company Profile, Allotment Status, Listing Dates. Music Broadcast has drafted a Red Herring Prospectus and got approval for the same from the Regulatory firm Securities Board of India. The IPO is scheduled for March 06, 2017 with a price band of Rs. 324-333. The lot size of applying the IPO is for 45 shares. One can apply via ASBA to avail the benefit of listing this IPO. The maximum application of amount for retail investor stood at Rs. 2 lacs.
Public offering of the firm is placed to introduce a fresh issue of 1, 20, 12, 053 Equity shares with Face value of Rs. 10 each exchange as well as an Offer for Sale of close to 26, 58, 518. The company plans to raise Rs. 400 crore through its IPO and close to about 88.53 crore through an Offer for Sale (OFS).
- The company was incorporated on November 4, 2000 at Kolkata, India. It is established as a first private FM radio broadcaster in India. The firm runs its all radio stations with a brand name “Radio City”.
- The firm spread from 4 cities in 2001 to 29 cities as on November 25, 2016 followed by 49.60 million listeners. The company is working smartly to increase its more radio city stations in other states as well. It also runs an online web radio ‘Fun Ka Antenna’ on its web portal www. planetradiocity.com.
- It also has a ‘Planet Radio City’ mobile app that plays various stations such as ‘Radio City Freedom’, ‘Radio City Electronica’, ‘Radio City Metal’ and ‘Radio City Smaran’, in various languages, on mobile and other smart devices.
- RJ Shows and films music are the main radio content of the firm. Its running programs are ‘Love Guru’ and ‘Kal Bhi Aaj Bhi’ and pre-programming features such as ‘Babber Sher’ and ‘Joke Studio’.
- The company has various awards like ‘Best Talk/Interview Special’ and ‘Community Service’ by the New York Festival Radio Awards in 2016. It stood at first rank in the ‘Media Industry’ and second rank in ‘Best Companies for Hiring and Welcoming’ categories by Great Place to Work in 2015.
- The company also plays an important role as a subsidiary of Jagran Prakashan limited.
Outlook of the Firm:-
- Available and Spread over pan-India in the radio industry;
- Robust sales capacity with exclusive content;
- Strong and effective internal operational systems and human resource management;
- Strong financials and cash flows;
- Knowledgeable and experienced management team and are part of the Jagran group, a leading media group in India.
Objects Of The Issue:-
- Redemption of Listed NCDs;
2. Early redemption of the JPL NCDs and repayment / pre-payment of JPL ICDs;
3. General corporate purposes.
Summary Of Issue:
|Issue Open:-||Marc 06,2017 to March 08,2017|
|Issue Type||Book Build Issue IPO|
|Issue Size (Shares) – IPO||1,20,12,053Equity Shares|
|Shares to be sold in Offer for Sale (OFS)||26,58,518 Equity Shares|
|Issue Size in (Value) – IPO||Rs.400 crore*|
|Size of Offer For Sale (OFS)||Rs. 88.53 crore|
|Face Value||Rs. 10 Per Equity Share|
|Issue Price||Rs. 324-333 Per Equity Shares|
|Market lots||45 Shares|
|Minimum Order Quantity||45 Shares|
|Listing At||BSE, NSE|
*The IPO is of 400 crore as well as an OFS of 88.53 crores amounting to a total of 488.53 crores
Important dates for Music Broadcast IPO Allotment Status
- The Allotment date for Music Broadcast IPO issue is expected to be March 09,2017
- The amount will get unblocked on March 10,2017
- The Shares are expected to credited in DP accounts on March 10,2017
- The Shares of Music Broadcast are likely to be listed March 13,2017 on both BSE and NSE.
Music Broadcast IPO Allotment Status
Music Broadcast IPO allotment status would be available soon after the IPO closure date. Usually the allotment comes within a week from the closing date which in this IPO yet to be announced.
One can check the allotment on the given below link with PAN number or Application number or DP Client Id. All you need to do is to follow these steps:-
- Click on the given link See Allotment Status here
- Go to Application Status
- Select IPO as Music Broadcast IPO
- Enter you PAN Number or Application Id or DP Client Id.
It takes little time to fetch information so you need to be little patient.
Subscription Details for Music Broadcast Limited IPO
|Category||Shares Offered/Reserved||Subscription ( no. of times)|
|Day 1||Day 2||Day 3|
Promoters Of the Company:-
JPL (Jagran Prakasha Ltd) is the promoter of the firm.
|Particulars||For the year/Period ended (Rs. in Million)|
|Profit After Tax (PAT)||425.07||470.59||243.25||116.19||(21.70)|
Book Running Lead Managers Details:-
|ICICI Securities Limited ICICI Center,
H.T. Parekh Marg, Churchgate,
Mumbai 400 020
Tel: (91 22) 2288 2460
Fax: (91 22) 2282 6580
Investor Grievance E-mail: email@example.com
Contact Person: Shekher Asnani/Amit Joshi/Vishal Kanjani
SEBI Registration No.: INM000011179
Registrar To The Issue:-
Karvy Computershare Private Limited
Karvy Selenium Tower B,
Plot 31-32 Gachibowli, Financial District Nanakramguda,
Hyderabad 500 032
Tel: (91 40) 6716 2222
Fax: (91 40) 2343 1551
Investor Grievance E-mail: firstname.lastname@example.org
Contact Person: M. Muralikrishna
SEBI Registration No.: INR000000221
Registered Office Details:-
5th Floor, RNA Corporate Park,
Off Western Express Highway,
Kalanagar, Bandra (East)
Mumbai 400 051
Telephone: (91 22) 6696 9100;
Facsimile: (91 22) 2642 9113;
Contact Person: Chirag Bagadia,
Company Secretary and Compliance Officer Telephone: (91 22) 6696 9100;
Facsimile: (91 22) 2642 9113;
Corporate Identity Number: U64200MH1999PLC137729