Music Broadcast Ltd

(RADIOCITY)

Music Broadcast Limited, formerly known as Music Broadcast Private Limited, is one of India's leading radio networks operating under the brand Radio City. With its operations beginning in July 2001 in Bangalore, the Company has extended its presence to 39 cities across India. According to an AZ research study in March 2018, Radio City became the largest radio network to reach 67 million Indians. The company had earlier allotted 30,000 equity shares to India Value Fund Trustee Company Private Limited in January 17, 2005, and later in October 2005, 20,400 equity shares were transferred to IVF Holdings Private Limited. In December 2014, 99.99 of its equity share capital was held by IVF Holdings. Subsequently, the name of IVF Holdings was changed to Spectrum and it, along with Crystal, held a combined percentage of 93.82 of the paid-up equity share capital of Music Broadcast Limited. Further, in November 2016, as per the Composite Scheme of Arrangement, the radio business undertaking of Shri Puran Multimedia Limited was demerged into Music Broadcast Limited. In March 2017, the company raised money from the public by issuing equity shares, which were listed on the Bombay Stock Exchange and National Stock Exchange. Music Broadcast Limited partnered with Lucknow Metro Rail Corporation in March 2018 to offer specialized content. During the same year, Radio City introduced VideoCity, India's first Video FM. Following this, in April 2018, they also acquired the Radio Business of Kolkata based Ananda Offset Private Limited, operating under the brand of Friends 91.9 FM, subject to regulatory approvals.

Share Price: ₹12.05 per share as on 21 Nov, 2024 04:01 PM
Market Capitalisation: ₹421.74Cr as of today
Listing date: 17 Mar, 2017
Chairperson Name: Vijay Tandon