On 28 November 2016Jagran Prakashan announced that the Company's subsidiary, Music Broadcast (MBL) has filed its draft red herring prospectus with the Securities and Exchange Board of India on 28 November 2016 in order to undertake an initial public offering (the "IPO"). The IPO will comprise of a fresh issue aggregating upto Rs. 400 crore and an offer for sale of upto 2,658,518 equity shares by certain existing shareholders of MBL. JPL is not selling any of its shareholding in MBL under the offer for sale portion.
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