The board of MBL, which operates the popular Radio City FM stations, in a meeting held today approved the IPO of the company.
"We wish to inform you that the board of directors of Music Broadcast Ltd (MBL) at their meeting dated November 24, 2016 has approved an initial public offer," the company informed BSE.
"The IPO would comprise of fresh issue aggregating upto Rs 4,000 million (400 crore) and offer for sale by existing shareholders," it added.
In June 2015, Jagran Prakashan had completed the acquisition of MBL.
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