IPO: Music Broadcast Limited

Company & Business Profile

Music Broadcast Ltd. incorporated in 1999 is the first and oldest FM radio broadcaster in India. The company owns and operates radio stations under the brand name “Radio City”. Its 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. As of November 25, 2016, the company operated its radio stations in 29 cities in India. 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 12.2 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. In 2015, Jagran Prakashan Ltd. acquired major stake in the company through its direct holding in Spectrum and indirect holding in Crystal.  JPL is one of the leading media and communications groups in India with interests spanning across print, radio, digital, OOH and brand activations.

Objects of the Issue

The company intends to utilize the issue proceeds for

– Redemption of Listed NCDs over FY17-20

– Early Redemption of JPL NCDs and

– Pre-payment of JPL ICDs

Listing 

The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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