The Radio City IPO is a book-built offering worth Rs 488.53 crore. The offering consists of a fresh issue of Rs 400.00 crore and an offer to sell 0.27 crore shares. Bidding for Radio City’s initial public offering (IPO) began on March 6, 2017 and finished on March 8, 2017. The Radio City IPO allotment was completed on Tuesday, March 14, 2017. On March 17, 2017, the shares were listed on the BSE and NSE. The pricing range for Radio City’s IPO is 324 to 333 per share. An application requires a minimum lot size of 45 shares. Retail investors must make a minimum investment of $14,985.
Music Broadcast Limited, founded in 1999, is India’s first private FM radio broadcaster, operating under the brand name Radio City. As of November 25, 2016, the corporation operated radio stations in 29 Indian cities. They are found in 12 of India’s top 15 most populous cities. Music Broadcast Limited is a division of Jagran Prakashan Limited. Radio stations broadcast film, non-film, devotional, regional, and international music, as well as shows hosted by radio jockeys (RJs) in Hindi, Tamil, Kannada, Malayalam, and Telugu. It also maintains 31 Web radio stations in
6 languages that provide Internet radio with live RJ presented shows via Planet Radio City, with a listenership of 12.20 million. Furthermore, Music Broadcast Limited manages the ‘Planet Radio City’ mobile app, which plays several stations in various languages, including ‘Radio City Freedom,’ ‘Radio City Electronica,’ ‘Radio City Metal,’ and ‘Radio City Smaran,’ on mobile and other smart devices.
Radio City IPO Details
| IPO Date | March 6, 2017 to March 8, 2017 |
| Listing Date | March 17, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹324 to ₹333 per share |
| Lot Size | 45 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹488.53 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 2,658,518 shares of ₹10 (aggregating up to ₹88.53 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Radio City IPO Timeline
| IPO Open Date | Monday, March 6, 2017 |
| IPO Close Date | Wednesday, March 8, 2017 |
| Basis of Allotment | Tuesday, March 14, 2017 |
| Initiation of Refunds | Wednesday, March 15, 2017 |
| Credit of Shares to Demat | Thursday, March 16, 2017 |
| Listing Date | Friday, March 17, 2017 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 8, 2017 |
Radio City IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | – | NA |
| QIB Shares Offered | 2,978,685 (28.42%) | NA |
| NII (HNI) Shares Offered | 2,250,630 (21.47%) | |
| Retail Shares Offered | 5,251,469 (50.11%) | 116,699 |
| Total Shares Offered | 10,480,784 (100%) |
Radio City IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 45 | ₹14,985 |
| Retail (Max) | 13 | 585 | ₹194,805 |
Objects of the Issue (Radio City IPO Objectives)
The object of the issue is to:
- Redemption of Listed NCDs;
- Early redemption of the JPL NCDs and repayment / pre-payment of JPL ICDs;and
- General corporate purposes.
Radio City IPO Listing Details
| Listing Date | March 17, 2017 |
| BSE Script Code | 540366 |
| NSE Symbol | RADIOCITY |
| ISIN | INE919I01016 |
| Final Issue Price | ₹333 per share |
Radio City Listing Day Trading Information
| 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 |
Music Broadcast Ltd Contact Details
Music Broadcast Ltd
5 th Floor, RNA Corporate Park,
Off Western Express Highway,
Kalanagar, Bandra (East) Mumbai 400 051
Phone: (91-22) 6696-9100
Email: [email protected]
Website: http://www.planetradiocity.com
Radio City IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://kosmic.kfintech.com
Radio City IPO FAQs
Q1. What is Radio City IPO?
Ans. Radio City IPO is a main-board IPO of [.] equity shares of the face value of ₹10, aggregating up to ₹488.53 crore. The issue is priced at ₹324 to ₹333 per share. The minimum order quantity is 45 shares. The IPO opens on March 6, 2017, and closes on March 8, 2017.
Q2. When Radio City IPO will open?
Ans. The Radio City IPO opens on March 6, 2017 and closes on March 8, 2017.
Q3. What is the lot size of the Radio City IPO?
Ans. Radio City IPO lot size is 45 shares, and the minimum amount required is ₹14,985.
Q4. When is the Radio City IPO listing date?
Ans. The Radio City IPO listing date is on March 17, 2017.
