The equity shares of Music Broadcast Limited (which runs Radio City FM) will be listed and admitted to the dealings on the exchange w.e.f. tomorrow as per details given below:

Scrip Name: Music Broadcast Limited
Listing Date: Friday, 17 March 2017
Listing Group: 'B’ Group 
BSE Script Code: 540366
NSE Symbol: RADIOCITY
ISIN NO:  INE919I01016

Music Broadcast IPO (Radio City IPO) Allotment status is declared and can be checked from link given below

Click here to check your status now

Music Broadcast IPO Allotment Ratio for Retail Investors category is likely to be around 47:361

This means that roughly 47 applicants would get allotment of minimum bid lot shares out of every 361 applicants

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Radio City IPO Subscription Status - Day 3 at 5:30PM

QIB: 40.38x (*Excluding Anchor)
NII: 111.61x
RII: 9.26x
Total: 40.08x

Applications: 8,30,000 Approx

QIB: 0.00 times
Non Institutional Investors: 0.03 times
Retail: 1.00 times
Overall: 0.51 times

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

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.

Music Broadcast IPO Tentative Details

Issue Opens on: 06 March 2017
Issue Closes on: 08 March 2017
Issue Type: Book Built Issue IPO
Issue Size: 14,670,530 Equity Shares
Face Value: Rs 10 per Equity Share
Issue Price: Rs.324 – Rs.333 per Equity Share
Market Lot: 45 shares
Listing At: NSE, BSE

Equity Shares outstanding prior to the Issue = 45,042,767 Equity Shares
Fresh Issue of 12,012,012 Equity Shares @333/- aggregating up to Rs.4,000 million
Offer for Sale of 2,658,518 Equity Shares @333/- aggregating up to Rs.885.3 million
Total Issue of 14,670,530 Equity Shares @333/- aggregating up to Rs.4885.3 million Equity Shares outstanding after the Issue = 57,054,779 Equity Shares

Category-wise Break up:
Anchor – 4,401,159 Shares = 146.56Crs.
Net QIB – 2,934,106 Shares = 97.71Crs
NII – 2,200,580 Shares = 73.28Crs
RII – 5,134,685 Shares (1,14,104 Forms) = 170.99Crs. (Lot size = 45)
Total Issue – 14,670,530 Equity Shares = 488.53Crs.

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