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Music Broadcast IPO is a book build issue of ₹488.53 crores. The issue is a combination of fresh issue of 1.20 crore shares aggregating to ₹400.00 crores and offer for sale of 0.27 crore shares aggregating to ₹88.53 crores.
Music Broadcast IPO bidding started from Mar 6, 2017 and ended on Mar 8, 2017. The allotment for Music Broadcast IPO was finalized on Mar 14, 2017. The shares got listed on BSE, NSE on Mar 17, 2017.
Music Broadcast IPO price band is set at ₹333.00 per share . The lot size for an application is 45. The minimum amount of investment required by an retail is ₹14,580 (45 shares). The lot size investment for sNII is 14 lots (630 shares), amounting to ₹2,09,790, and for bNII, it is 67 lots (3,015 shares), amounting to ₹10,03,995.
ICICI Securities Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Music Broadcast IPO RHP for detailed Information.
| IPO Date | March 6, 2017 to March 8, 2017 |
| Listing Date | March 17, 2017 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹324 to ₹333 per share |
| Issue Price Final | ₹333 per share |
| Lot Size | 45 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,46,70,530 shares (aggregating up to ₹488.53 Cr) |
| Fresh Issue | 1,20,12,012 shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 26,58,518 shares of ₹10 (aggregating up to ₹88.53 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 4,50,42,767 shares |
| Share Holding Post Issue | 5,70,54,779 shares |
Radio City IPO offers total 1,46,70,530 shares. Out of which 73,35,264 (50.00%) allocated to QIB, 29,34,106 (20.00%) allocated to QIB, 22,00,580 (15.00%) allocated to NII, 51,34,686 (35.00%) allocated to RII and 44,01,158 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 73,35,264 (50.00%) | NA |
| − Anchor Investor Shares Offered | 44,01,158 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 29,34,106 (20.00%) | NA |
| NII (HNI) Shares Offered | 22,00,580 (15.00%) | NA |
| Retail Shares Offered | 51,34,686 (35.00%) | 1,14,104 |
| Total Shares Offered | 1,46,70,530 (100.00%) |
Music Broadcast IPO opens on March 6, 2017, and closes on March 8, 2017.
| IPO Open Date | Mon, Mar 6, 2017 |
| IPO Close Date | Wed, Mar 8, 2017 |
| Tentative Allotment | Tue, Mar 14, 2017 |
| Initiation of Refunds | Wed, Mar 15, 2017 |
| Credit of Shares to Demat | Thu, Mar 16, 2017 |
| Tentative Listing Date | Fri, Mar 17, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Mar 8, 2017 |
Investors can bid for a minimum of 45 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 45 | ₹14,985 |
| Retail (Max) | 13 | 585 | ₹1,94,805 |
| S-HNI (Min) | 14 | 630 | ₹2,09,790 |
| S-HNI (Max) | 66 | 2,970 | ₹9,89,010 |
| B-HNI (Min) | 67 | 3,015 | ₹10,03,995 |
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.
| Particulars | For the year/period ended (in Rs. Million) | |||||
|---|---|---|---|---|---|---|
| 30-Sep-16 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | 31-Mar-12 | |
| Total Assets | 5,278.26 | 4,852.88 | 3,977.26 | 1,699.64 | 1,707.77 | 1,808.30 |
| Total Revenue | 1,382.13 | 2,455.06 | 2,075.06 | 1,572.71 | 1,405.06 | 1,248.04 |
| Profit After Tax (PAT) | 297.56 | 425.07 | 470.59 | 243.25 | 116.19 | (21.70) |
The Company Music Broadcast IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Redemption of the Listed NCDs | 200.00 |
| 2 | Early redemption of the JPL NCDs and repayment/ pre-payment of the JPL ICDs | 98.24 |
| 3 | General corporate purposes | 80.12 |
[Dilip Davda] Radio FM sector is set for a fast forward mode and this company with its niche play and presence in many cities set to benefit with more liberal new policy. Investors may consider investment for short to long term rewards. Read detail review...
| Listing Date | March 17, 2017 |
| BSE Script Code | 540366 |
| NSE Symbol | RADIOCITY |
| ISIN | INE919I01016 |
| Final Issue Price | ₹333 per share |
| BSE Listing Group | B |
Music Broadcast Ltd.
5 th Floor, RNA Corporate Park,
Off Western Express Highway,
Kalanagar, Bandra (East) Mumbai 400 051
Bandra, Maharashtra
Phone: (91 22) 6696 9100
Email: investor@myradiocity.com
Website: http://www.planetradiocity.com
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Music Broadcast IPO is a main-board IPO of 1,46,70,530 equity shares of the face value of ₹10 aggregating up to ₹488.53 Crores. The issue is priced at ₹333 per share. The minimum order quantity is 45.
The IPO opens on March 6, 2017, and closes on March 8, 2017.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Music Broadcast IPO using UPI as a payment gateway. Zerodha customers can apply in Music Broadcast IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Music Broadcast IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Music Broadcast IPO opens on March 6, 2017 and closes on March 8, 2017.
Music Broadcast IPO lot size is 45, and the minimum amount required for application is ₹14,985.
You can apply in Music Broadcast IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Music Broadcast IPO will be done on Tuesday, March 14, 2017, and the allotted shares will be credited to your demat account by Thursday, March 16, 2017. Check the Music Broadcast IPO allotment status.
The Music Broadcast IPO listing date is on Friday, March 17, 2017.
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