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Music Broadcast shares gain 12% on debut

At Friday's closing price, Music Broadcast had a market capitalisation of Rs2,129 crore

BS Reporter 

Music Broadcast, a Jagran group entity that operates the Radio City FM radio channel, soared 12 per cent over their initial public offering (IPO) price of Rs333 during the stock market debut on Friday.   The stock listed on the BSE about 26 per cent higher, at Rs420 but later gave up most of the gain to end at Rs373. The low it touched was Rs368. Around Rs850 crore worth of shares changed hands on the BSE and the National Stock Exchange.   The good listing day performance follows a stellar response to the Rs488-crore IPO last week; it saw a subscription of 39.7 times the ...

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