In corporated in 1999, Music Broadcasted Limited is the 1st private FM Radio in india Operates under the brand name Radio City. The Company operated its Radio Stations in 29 cities in India as of 25 November 2016. They present in 12 out of the top 15 cities in India by population.
Music Broadcast Limited operates as a subsidiary of Jagran Prakshan Limited . Radio station 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. It also operates 31 web radio stations that offer internet radio with live RJ hosted shows through planet Radio City in 6 Languages with a listener of 12.20 million. In addition, Music Broadcast limited operates ‘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.
The Promoter of the Company is JPL.
JPL was incorporated on July 18, 1975 under the Companies Act, 1956 as “Jagran Prakashan Private Limited” and, subsequently, became a deemed public limited company under Section 43A of the Companies Act. In 2004, JPL was again converted into a private limited company pursuant to a shareholders’ resolution dated September 28, 2004. On November 23, 2005, JPL was converted into a public limited company pursuant to a shareholders’ resolution.
Objects of the Issue:
The net proceeds of the IPO are proposed to be used as set forth below:
1. Repayment or prepayment of a portion of loans and redemption or earlier redemption of NCDs availed by the Company;
2. Construction and purchase of fit outs for new stores;
3. General corporate purposes.
Offer For Sale
The Selling Shareholders will be entitled to the proceeds of the Offer for Sale after deducting their portion of the Offer related expenses and relevant taxes thereon. the Company will not receive any proceeds from the Offer for Sale. All expenses in relation to the offer will be borne by the Company and the Selling Shareholders in proportion to the Equity Shares contributed to the Offer by the Company and the Selling Shareholders respectively.
|Issue Open Date||Issue Closing Date||Application Money||Allotment Money|
An indicative timetable in respect of the Offer:
- Issue Size: 6,23,93,631 Equity Shares
- Issue Price: Rs 290 – Rs 299 Per Equity Share
|Particulars||For the year/period ended(in Rs.Million)|
|Profit After Tax(PAT)||297.56||425.07||470.59||243.25||116.19||(21.70)|
|Lead Managers||Registrar||Listed at|
|ICICI SECURITIES LTD||KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B, Plot No 31-32, Gachibowli, Financial Dist
Hyderabad, Telangana – 500032
Phone: 67162222 Fax: 23431551
5th Floor, RNA Corporate Park, Off Western Express Highway, Kalan Mumbai, Maharashtra – 400051
Phone: 66969100 Fax: 26429113
Public Issue of 14670530 Equity Shares of ₹ 10.00 each for Cash at a Premium of ₹ 323.00 per share.