Music Broadcast IPO (Radio City IPO)

Music Broadcast IPO (Radio City IPO)

Music Broadcast Private Limited is the holding company which operates radio stations under the “Radio City” and “Radio Mantra” brands. Radio City is the first private FM radio broadcaster in India. The company has grown its presence from four cities in 2001 to 37 cities as on February 15, 2017. These radio stations include the eight “Radio Mantra Stations” transferred from SPML pursuant to the Scheme of Arrangement and nine out of eleven New Radio City Stations. The company expects the remaining two New Radio City Stations to be operational by March/ April 2017. Music Broadcast 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 by AZ Research (Source: AZ Research Report).

Under the Phase III Policy, new cities were opened up for auction, pursuant to which the company acquired 11 additional radio stations i.e. the New Radio City Stations. The New Radio City Stations which have been operationalised are located at Kanpur, Ajmer, Kota, Udaipur, Patiala, Jamshedpur, Nasik, Kolhapur and Madurai. The remaining two New Radio City Stations namely Bikaner and Patna are expected to be operationalised by March/ April 2017. Under the Phase III Policy the license period for radio stations has been increased to 15 years and radio stations are now permitted to carry news bulletins of AIR and also network their radio stations in all cities. Music Broadcast networked its stations located at Sangli, Nanded, Jalgaon, Sholapur and Akola in Maharashtra and operates it from a single hub at Ahmednagar.

In addition to the above, the company also has sales alliance with ITM Software & Entertainment Private Limited (“ITM”) which operates “Suno Lemon 91.9 FM” (“Suno Lemon”) in Gwalior and Ananda Offset Private Limited (“AOPL”) which operates “Friends 91.9 FM” (“Friends FM”) in Kolkata. The company also operates its online web radio on web portal www.planetradiocity.com (“Planet Radio City”), which was launched in 2010. The company operates 40 web radio stations through planetradiocity.com in eight languages. As of January 2017, 30 of these 40 web radio stations are hosted with the StreamGuys platform and have a listenership of 16.94 million (Source: PurpleStream Data). Further, as of January 2017, 33 of the 40 web radio stations are also hosted with NGH.IN platform and have a listenership of 14.24 million (Source: Lasopi Data).

Music Broadcast’s radio content typically comprises of RJ shows and film music. Radio City has also created popular radio shows such as ‘Love Guru’ and ‘Kal Bhi Aaj Bhi’ and pre-programming features such as ‘Babber Sher’ and ‘Joke Studio’. ‘Radio City Super Singer’, a popular singer talent hunt on radio was launched in 2011 and continues till date. The company has also launched ‘Gig City’ a unique initiative which broadcasts music concerts simultaneously across multiple radio stations.

Promoters of Music Broadcast Limited: Jagran Prakashan Limited

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

Phone: +91 22 6696 9100
Fax: +91 22 2642 9113
Email: [email protected]
Website: www.planetradiocity.com

Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana

Phone: +91 40 6716 2222 
Fax: +91 40 2343 1551 
Email: [email protected]
Website: www.karvycomputershare.com

Music Broadcast IPO Subscription Details

Music Broadcast IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status. You can also check allotment status using application number on this link.

IPO Opening Date: 6 March 2017

IPO Closing Date: 8 March 2017

Finalisation of Basis of Allotment: 14 March 2017

Initiation of refunds: 15 March 2017

Transfer of shares to demat accounts: 16 March 2017

Listing Date: 17 March 2017

Listing Price on NSE: INR413 per share (return of 24% over IPO price)

Closing Price on NSE: INR372.9 per share (return of 11.9% over IPO price)