Music Broadcast Limited BuyBack offer 2018
(i) MBL was incorporated as ‘Music Broadcast Private Limited’ on November 4, 1999, as a private limited company under the Companies Act, 1956. It was converted into a public limited company pursuant to a resolution of the shareholders at an extraordinary general meeting held on June 15, 2015 and consequently, the name of the company was changed to Music Broadcast Limited.
(ii) Music Broadcast Limited (MBL) is the 1st private FM radio broadcaster in India. MBL has its presence from 4 cities in 2001 to 39 cities as of 30th June 2018 and is present in 12 out of the top 15 cities in India by population. MBL also operates 52 web radio stations through radiocity in 11 languages, which has a listenership of 44.3 mn as on June 2018. MBL has been Ranked 1st in Mumbai, Bangalore and Delhi in terms of a number of listeners and has a total number of 67 million listeners across all 34 cities covered by AZ Research. MBL has been awarded the Best Place to Work in the media industry and other industries in 2013, 2014, 2015, 2017 & 2018.
Buy Back Offer Deal:
|Buyback Type:||Open Market|
|Buyback Opening Date:||Aug 06 2018|
|Buyback Closing Date:||Dec 11 2018|
|Buyback Offer Amount:||₹ 57 Cr|
|Date of Board Meeting approving the proposal:||Jul 24 2018|
|Date of Public Announcement:||Jul 24 2018|
|Buyback Offer Size:||2.59%|
|Buyback Number of Shares:||1,480,519|
|Buyback Price:||₹ 385 Per Equity Share|