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Saturday, February 25, 2017

Radio City FM's Music Broadcast IPO to open from March 6, 2017

Music Broadcast Ltd, a Jagran group firm that runs Radio City FM channel, will hit the capital markets on March 6 to raise more than Rs 400 crore through initial public offer. The IPO comprises fresh issue of equity shares up to Rs 400 crore and an offer for sale of up to 26.59 lakh equity scrips. It will close on March 8, Music Broadcast Ltd (MBL) said in a statement.

It had filed IPO papers with the Securities and Exchange Board of India (Sebi) in November last year and received 'observation' from it on February 9, which is necessary for a company to launch the public offer

Music Broadcast IPO – Schedule (Tentative)

03rd March 2017 – Anchor Investors
06th March 2017 – Offer Opens
08th March 2017 – Offer Closes
14th March 2017 - Finalisation of Basis of Allotment
15th March 2017 - Unblocking of ASBA
16th March 2017 - Credit to Demat Accounts
17th March 2017 – Listing on NSE & BSE
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