Incorporated in 1999, Music Broadcast Limited is the first private FM radio broadcaster in India operates under the brand name Radio City. The company operated its radio stations in 29 cities in India as of November 25, 2016. They are present in 12 out of the top 15 cities in India by population.
Music Broadcast Limited 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. 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 listenership 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.
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Redemption of the Listed NCDs | ₹200 |
| 2 Early redemption of the JPL NCDs and repayment/ pre-payment of the JPL ICDs | ₹98 |
| 3 General corporate purposes | ₹80 |
| Metric | 30-Sep-16 | 31-Mar-16 | 31-Mar-15 |
|---|---|---|---|
| Total Assets | 528 | 485 | 398 |
| Revenue | 138 | 246 | 208 |
| PAT | 30 | 43 | 47 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 7,335,264 (50%) | — |
| NII / HNI | — | 2,200,580 (15%) | — |
| Retail (RII) | — | 5,134,686 (35%) | — |
| Total | — | 14,670,530 (100%) | — |
* Amount calculated at upper price band (₹333) · ** Total includes all investor categories
- 1 Initiation of Refund 15 Mar 2017
- 2 Credit of Shares to Demat 16 Mar 2017
- 3 Lock-in Period (30%) April 13, 2017
- 4 Lock-in Period (50%) June 12, 2017
- Retail allocation is good at 35% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 50%.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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