Music Broadcast Raises Rs 146.6 Crore From Anchor Investors Ahead Of IPO

Music Broadcast Ltd., the parent company of Radio City FM channel, allocated shares worth Rs 146.6 crore to anchor investors ahead of its initial public offering which opens on March 6, 2017.

The company has allotted 44,01,158 equity shares to anchor investors at an offer price of Rs 333 a piece aggregating to Rs 146.56 crore, it said in a statement.

The anchor investors HSBC Indian Equity Mother Fund, Nomura Funds Ireland, Franklin India, Morgan Stanley Mauritius, Pictet Country, DSP Blackrock, ICICI Prudential, Sun Life Insurance among others.

The IPO is an offer for sale for 26,58,518 crore shares. The price band fixed is from Rs 324 to Rs 333 per equity share.

The issue is being managed by ICICI Securities Ltd. and Citigroup Global Markets India Pvt Ltd. The equity shares offered through the offer are proposed to be listed on BSE and National Stock Exchange (NSE).

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