Music Broadcast IPO (Radio City IPO)

Music Broadcast IPO (Radio City IPO)

Music Broadcast IPO (Radio City IPO)radio city logo

Music Broadcast Private Limited is the holding company which operates radio stations under the “Radio City” and “Radio Mantra” brands. Radio City is the first private FM radio broadcaster in India. The company has grown its presence from four cities in 2001 to 37 cities as on February 15, 2017. These radio stations include the eight “Radio Mantra Stations” transferred from SPML pursuant to the Scheme of Arrangement and nine out of eleven New Radio City Stations. The company expects the remaining two New Radio City Stations to be operational by March/ April 2017. Music Broadcast is present in 12 out of the top 15 cities in India by population. As on March 31, 2016, its radio stations reached out to over 49.60 million listeners in 23 cities covered by AZ Research (Source: AZ Research Report).

Under the Phase III Policy, new cities were opened up for auction, pursuant to which the company acquired 11 additional radio stations i.e. the New Radio City Stations. The New Radio City Stations which have been operationalised are located at Kanpur, Ajmer, Kota, Udaipur, Patiala, Jamshedpur, Nasik, Kolhapur and Madurai. The remaining two New Radio City Stations namely Bikaner and Patna are expected to be operationalised by March/ April 2017. Under the Phase III Policy the license period for radio stations has been increased to 15 years and radio stations are now permitted to carry news bulletins of AIR and also network their radio stations in all cities. Music Broadcast networked its stations located at Sangli, Nanded, Jalgaon, Sholapur and Akola in Maharashtra and operates it from a single hub at Ahmednagar.

In addition to the above, the company also has sales alliance with ITM Software & Entertainment Private Limited (“ITM”) which operates “Suno Lemon 91.9 FM” (“Suno Lemon”) in Gwalior and Ananda Offset Private Limited (“AOPL”) which operates “Friends 91.9 FM” (“Friends FM”) in Kolkata. The company also operates its online web radio on web portal www.planetradiocity.com (“Planet Radio City”), which was launched in 2010. The company operates 40 web radio stations through planetradiocity.com in eight languages. As of January 2017, 30 of these 40 web radio stations are hosted with the StreamGuys platform and have a listenership of 16.94 million (Source: PurpleStream Data). Further, as of January 2017, 33 of the 40 web radio stations are also hosted with NGH.IN platform and have a listenership of 14.24 million (Source: Lasopi Data).

Music Broadcast’s radio content typically comprises of RJ shows and film music. Radio City has also created popular radio shows such as ‘Love Guru’ and ‘Kal Bhi Aaj Bhi’ and pre-programming features such as ‘Babber Sher’ and ‘Joke Studio’. ‘Radio City Super Singer’, a popular singer talent hunt on radio was launched in 2011 and continues till date. The company has also launched ‘Gig City' a unique initiative which broadcasts music concerts simultaneously across multiple radio stations.

Promoters of Music Broadcast Limited: Jagran Prakashan Limited 

Music Broadcast IPO details
Subscription Dates6 - 8 March 2017
Price BandINR324 - 333 per share
Fresh issueINR400 crore
Offer For Sale2,658,518 shares (INR88.52 crore at upper band)
Total IPO sizeINR488.52 crore at upper band
Minimum bid (lot size)45 shares
Face Value INR10 per share
Retail Allocation35%
Listing OnNSE, BSE

 

Music Broadcast's consolidated financial performance (in INR crore)

FY2012FY2013FY2014FY2015FY2016
Total revenue124.8140.5157.3207.5245.5
Total expenses126.5128.9132.9160.4189.4
Profit after tax-2.211.624.347.142.5

 

Music Broadcast Ltd Contact Details

Avenue Supermarts Limited
5th Floor, RNA Corporate Park, Off Western Express Highway, Kalanagar, Bandra (East)
Mumbai 400 051

Phone: +91 22 6696 9100
Fax: +91 22 2642 9113
Email: [email protected]
Website: www.planetradiocity.com

Registrar of Music Broadcast IPO

Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana

Phone: +91 40 6716 2222 
Fax:
+91 40 2343 1551 
Email:
[email protected]
Website: www.karvycomputershare.com

Music Broadcast IPO Subscription Details

CategoryShares offeredSubscription (No. of times, at 6:30 PM) 
Day 1Day 2Day 3
QIB2,978,6850.00 1.0639.77
NII 2,250,6300.03 0.24 109.13
Retail 5,251,4691.00 3.669.32
Total10,480,7840.51 2.1939.41

Music Broadcast IPO Allotment Status

Music Broadcast IPO allotment status is now available on Karvy Computershare’s website. Click on this link to get allotment status. You can also check allotment status using application number on this link.

LISTING PERFORMANCE OF Music Broadcast IPO

IPO Opening Date: 6 March 2017

IPO Closing Date: 8 March 2017

Finalisation of Basis of Allotment: 14 March 2017

Initiation of refunds: 15 March 2017

Transfer of shares to demat accounts: 16 March 2017

Listing Date: 17 March 2017

Listing Price on NSE: INR413 per share (return of 24% over IPO price)

Closing Price on NSE: INR372.9 per share (return of 11.9% over IPO price)

37 COMMENTS

  1. Listed good but I couldn’t sell in morning as I was busy in office. And price didn’t come back after that. What should i do now???

  2. I applied 495 in retail category, despite RII category oversubscribed by 9 times, I have not been allotted any shares whereas my application was 11 times of the minimum lot? I do not understand how allotment process works?

    • The allotment method has been changed some time back. It is no longer based on proportional basis. Instead, the number of retail applications is divided by the number of available retail lots. So 1 out of every 9 applications gets allotment regardless of number of shares you applied for. In other words, a person who applied for 1 lot stands the same chance as a person who applied for 11 lots. Hope this helps.

  3. Have the allotment for shares being done by radio city? i did not get any…nd the money has also got transferred from gross allocation to net withdrawal balance in my dmat account? what does that mean?

  4. Hello
    I applied for Radio city IPO but my money still not block by ASBA. I was applied on 8th march 2017 02:00 PM This IPO would alloted me or not

    • Yes, you will need a demat and a bank account for this. You can avoid going to broker by applying online through ASBA.

  5. DEAR SIR,
    I WOULD LIKE TO KNOW THE WHOLE PROCESS OF SELLING SHARES IN GREY MARKET IN DETAILS.
    PL. HELP ME.

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