Bookbuilding IPO | ₹489 Cr | Listed at BSE, NSE | Mon, Mar 6, 2017 - Wed, Mar 8, 2017
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 per share. The lot size for an application is 45. The minimum amount of investment required by an retail is ₹14,985 (45 shares) (based on upper price). 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 Open
Mon, Mar 6, 2017
IPO Close
Wed, Mar 8, 2017
Issue Price
₹333 per share
Market Cap (Pre-IPO)
₹1,899.92 Cr
| IPO Date | 6 to 8 Mar, 2017 |
| Listed on | Fri, Mar 17, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹324 to ₹333 |
| Issue Price | ₹333 per share |
| Lot Size | 45 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,46,70,530 shares (agg. up to ₹489 Cr) |
| Fresh Issue | 1,20,12,012 shares (agg. up to ₹400 Cr) |
| Offer for Sale | 26,58,518 shares of ₹10 (agg. up to ₹89 Cr) |
| Share Holding Pre Issue | 4,50,42,767 shares |
| Share Holding Post Issue | 5,70,54,779 shares |
| BSE Script Code / NSE Symbol | 540366 / RADIOCITY |
| ISIN | INE919I01016 |
Music Broadcast IPO comprises a total issue size of 1,46,70,530 shares. Out of which, 73,35,264 (50.00%) are allocated to QIB, 22,00,580 (15.00%) allocated to NII 51,34,686 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max 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% |
Investors can bid for a minimum of 45 shares and in multiples thereof.
| 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 |
Music Broadcast IPO raises ₹146.56 crore from anchor investors. Music Broadcast IPO Anchor bid date is March 3, 2017.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Mar 3, 2017 |
| Shares Offered | 44,01,158 |
| Anchor Portion (₹ Cr.) | 146.56 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Apr 13, 2017 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Jun 12, 2017 |
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
The Music Broadcast IPO is subscribed 39.67 times on March 8, 2017 11:00:00 PM (Day 3). The public issue subscribed 9.85 times in the retail category, 39.78 times in the QIB category, and 109.13 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 39.78 | 29,78,685 | 11,84,77,260 |
| NII | 109.13 | 22,50,630 | 24,56,15,625 |
| Retail | 9.85 | 52,51,469 | 5,17,28,400 |
| Total | 39.67 | 1,04,80,784 | 41,58,21,285 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to BRLM (including underwriting commission, brokerage and selling commission) | 13.43 |
| 2 | Commission and processing fees for SCSBs(1) Brokerage and selling commission for Registered Brokers, RTAs and CDPs | 1.01 |
| 3 | Fees payable to the Registrar to the Offer | 0.34 |
| 4 | Others: | |
| 5 | (i) Listing fees, SEBI filing fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 2.28 |
| 6 | (ii) Printing, stationery and distribution expenses | 1.27 |
| 7 | (iii) Advertising and marketing expenses | 4.45 |
| 8 | (iv) Fees payable to the Auditor; | 1.65 |
| 9 | Fees payable to Legal Counsels; and | 1.43 |
| 10 | Miscellaneous | 0.56 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹333.00 | ₹333.00 |
| Open | ₹420.00 | ₹413.00 |
| Low | ₹368.00 | ₹367.20 |
| High | ₹420.00 | ₹415.00 |
| Last Trade | ₹373.15 | ₹372.90 |
Lead Manager Reports
Music Broadcast IPO is a main-board IPO of 1,46,70,530 equity shares of the face value of ₹10 aggregating up to ₹489 Crores. The issue is priced at ₹333 per share. The minimum order quantity is 45.
The IPO opens on Mon, Mar 6, 2017, and closes on Wed, Mar 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 Mon, Mar 6, 2017 and closes on Wed, Mar 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 Thu, Mar 16, 2017. Check the Music Broadcast IPO allotment status.
The Music Broadcast IPO listing date is on Fri, Mar 17, 2017.
