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Monday, March 6, 2017

Music Broadcast IPO (Radio City IPO) Price Band and Bid Lot

The IPO price band for Music Broadcast IPO is decided at Rs. 324 to Rs. 333 per equity share. Correspondingly the bid lot would be 45 equity shares and in multiples thereof

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

The object of the issue are to:

1. Redemption of Listed NCDs; 
2. Early redemption of the JPL NCDs and repayment / pre-payment of JPL ICDs;and
3. General corporate purposes

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