Buyback Completed today. Company paid about 326 average price for shares. The market price when buyback was announced was about 295.
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|
Details of Buyback:
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
Company Contact Details:
Thanks for sharing the info Gaurav bro.
It is an open market buyback, not a tender buyback. In this buyback, the company buys back shares from the open market rate. So no gain as such for investors.
Buy back of Music Broadcast already started but till date neither I have received any buy back form, my eligibility etc. I am having HDFC Dmat account in which no such details of buy back is available. Please advise what is the procedure to render shares of Music Broadcast for Buy back
This is a Open Market Buyback and not a Tender Offer. You just need to place a normal sell order on the exchange.
Music Broadcast said it will purchase its fully paid up equity shares of face value of Rs 10 each, at a maximum price of Rs 385 per share. The buyback shall not exceed Rs 57 crore, representing 9.87% of the aggregate of total paid-up equity share capital and free reserves of the company based on audited financial statements of Company as on 31 March 2018.
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