Music Broadcast IPO (Radio City IPO) opens for subscription

The IPO of Music Broadcast Limited, the company that operates the FM channel Radio City 91.1 FM has opened for subscription from today

The IPO price band is decided at Rs. 324 to Rs. 333 per equity share. Correspondingly the bid lot would be 45 equity shares and in multiples thereof. The IPO would be open for subscription till Mar 8, 2017

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.