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Music Broadcast's IPO subscribed 2.2 times

The 10.5-million offering has so far garnered bids for nearly 23 million shares

BS Reporter  |  Mumbai 

Music Broadcast
Officials of Music Broadcast Ltd announcing the IPO in Mumbai

The initial public offer (IPO) by has garnered 2.2 times subscription a day before its close. The 10.5-million offering has so far garnered bids for nearly 23 million shares. 

The retail portion of the has been subscribed nearly four times, institutional investor quota was subscribed one time and the high networth individual (HNI) segment was subscribed 24%.  

The company, which operates channel, has fixed the price band of Rs 324 to Rs 333 per share. is issuing fresh shares worth Rs 400 crore to retire some of its debt. The issue comprises of secondary share sale worth around Rs 88 crore. 

The Rs 488-crore closes on Wednesday. The company has already raised Rs 146 crore from anchor investors. 

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Music Broadcast's IPO subscribed 2.2 times

The 10.5-million offering has so far garnered bids for nearly 23 million shares

The 10.5-million offering has so far garnered bids for nearly 23 million shares
The initial public offer (IPO) by has garnered 2.2 times subscription a day before its close. The 10.5-million offering has so far garnered bids for nearly 23 million shares. 

The retail portion of the has been subscribed nearly four times, institutional investor quota was subscribed one time and the high networth individual (HNI) segment was subscribed 24%.  

The company, which operates channel, has fixed the price band of Rs 324 to Rs 333 per share. is issuing fresh shares worth Rs 400 crore to retire some of its debt. The issue comprises of secondary share sale worth around Rs 88 crore. 

The Rs 488-crore closes on Wednesday. The company has already raised Rs 146 crore from anchor investors. 
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Business Standard
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Music Broadcast's IPO subscribed 2.2 times

The 10.5-million offering has so far garnered bids for nearly 23 million shares

The initial public offer (IPO) by has garnered 2.2 times subscription a day before its close. The 10.5-million offering has so far garnered bids for nearly 23 million shares. 

The retail portion of the has been subscribed nearly four times, institutional investor quota was subscribed one time and the high networth individual (HNI) segment was subscribed 24%.  

The company, which operates channel, has fixed the price band of Rs 324 to Rs 333 per share. is issuing fresh shares worth Rs 400 crore to retire some of its debt. The issue comprises of secondary share sale worth around Rs 88 crore. 

The Rs 488-crore closes on Wednesday. The company has already raised Rs 146 crore from anchor investors. 

image
Business Standard
177 22