Music Broadcast IPO
Music Broadcast IPO — date, price band, lot size & details 2017
Music Broadcast listed on 17 Mar 2017 at ₹413, 24% above the ₹333 issue price.
Music Broadcast runs Radio City, the first private FM radio broadcaster in India, and is a subsidiary of Jagran Prakashan. Its total income was Rs 245.51 crore in FY2016.
Stock price
Music Broadcast is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 06 Mar 2017
- Close 08 Mar 2017
- Allotment 14 Mar 2017
- Refund/credit 15 Mar 2017
- Listing 17 Mar 2017
Issue summary
The terms of the offer, as filed.
| IPO Dates | 6 to 8 Mar, 2017 |
|---|---|
| Price Band | ₹324 – ₹333 |
| Face Value | ₹10 |
| Lot Size | 45 Shares |
| Issue Size | ₹488.53 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,985 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 45 shares at the ₹333 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 45 | ₹14,985 |
| Retail (max) | 13 | 585 | ₹1,94,805 |
| S-HNI (min) | 14 | 630 | ₹2,09,790 |
| S-HNI (max) | 66 | 2,970 | ₹9,89,010 |
| B-HNI (min) | 67 | 3,015 | ₹10,03,995 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It ran radio stations in 29 cities, including 12 of the top 15 by population.
- 02Total income rose from Rs 157.27 crore in FY2014 to Rs 245.51 crore in FY2016.
- 03EBITDA rose from Rs 42.36 crore in FY2014 to Rs 78.59 crore in FY2016.
- 04Rs 200.00 crore of the issue was for redeeming listed NCDs.
Risks · 5
- 01Profit after tax dipped from Rs 47.06 crore in FY2015 to Rs 42.51 crore in FY2016.
- 02Total borrowing was Rs 250.24 crore on 30 September 2016, above its net worth of Rs 140.16 crore.
- 03Radio depends on advertising, which falls in a slowdown; profit was Rs 29.76 crore in six months to September 2016.
- 04Licence fees and music royalties are set by the government and courts; total assets were Rs 527.83 crore.
- 05Jagran Prakashan held 96.34% before the issue and 71.38% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Music Broadcast offer document.
| Metric | 30 Sep 2016 | 31 Mar 2016 | 31 Mar 2015 | 31 Mar 2014 |
|---|---|---|---|---|
| Assets | 527.83 | 485.29 | 397.73 | 169.96 |
| Total Income | 138.21 | 245.51 | 207.51 | 157.27 |
| Profit After Tax | 29.76 | 42.51 | 47.06 | 24.33 |
| EBITDA | 45.51 | 78.59 | 62.30 | 42.36 |
| NET Worth | 140.16 | 110.40 | 60.59 | 13.63 |
| Reserves and Surplus | 95.11 | 65.36 | 18.67 | -28.29 |
| Total Borrowing | 250.24 | 255.74 | 284.82 | 103.16 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹378.36 Cr of the issue is earmarked to named objects.
Music Broadcast IPO Anchor Investors
19 anchor investors across 13 fund houses committed ₹146.56 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It operated radio stations in 29 cities as of 25 November 2016, including 12 of the 15 largest cities in India by population.
Its stations play film, non film and devotional music along with other content.
The IPO was Rs 488.53 crore, with Rs 400.00 crore of fresh issue and Rs 88.53 crore of offer for sale, at Rs 333, the top of the Rs 324 to Rs 333 band. The fresh money was for redeeming NCDs and repaying loans from its parent.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Music Broadcast IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
221 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Music Broadcast?
The current Grey Market Premium is ₹112.5, or 34% over the issue price.
What is the Music Broadcast IPO price band?
₹324 to ₹333, on a face value of ₹10.
When is the allotment?
The basis of allotment is 14 March 2017, with listing on 17 March 2017.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
