Music Broadcast Ltd Share Price

History of Music Broadcast Ltd

Music Broadcast Limited was incorporated as Music Broadcast Private Limited on November 4, 1999, at Kolkata as a Private Limited Company. The Company converted into a Public Limited Company and the name of Company was changed to Music Broadcast Limited and pursuant to this, a Fresh Certificate of Incorporation was issued by the Registrar of Companies, Mumbai on June 25, 2015. The Company is engaged in the business of operating Private FM radio stations through the brand Radio City'. The Company under the brand name of 'Radio City' is the first private FM radio broadcaster in India. Radio City has spearheaded the evolution of FM radio by offering content that is unique, path-breaking and invokes city passion amongst listeners with its brand philosophy of 'Rag Rag Mein Daude City'. The ... Company started its operations in India in July, 2001 in Bangalore and operates radio stations in 39 cities across India. During the financial year ended 31 March 2008, Radio City became the largest Radio network to reach 67 million Indians, according to AZ research March 2018 study. Radio City is the first private FM radio broadcaster in India and also operates the radio stations under the brand 'Radio City'. The company has grown the presence from four cities in 2001 to 39 currently. These radio stations including the eight 'Radio Mantra Solutions' transferred from SPML pursuant to scheme of arrangements and nine out of eleven New Radio City stations. In the year January 17, 2005, the company allotted 30,000 equity shares aggregating to 75% of the then paid-up equity share capital of the company to 'India Value Fund Trustee company Private Limited' (the IVF trustee company) and also in the year October 14, 2005, the IVF Trustee company transferred 20,400 equity shares, aggregating to 51% of the then paid-up equity share capital of the company to 'IVF Holdings Private Limited' (IVF Holdings). IVF Holdings held 99.99% of the paid up equity share capital of crystal. Further, pursuant to a share purchase agreement dated December 9, 2014 executed between IVF Trustee company, IVF Holdings and the company, IVF Trustee company transferred its entire shareholding in the company aggregating to 20.63% of then paid-up equity share capital of the company to IVF Holdings. Further pursuant a share purchase agreement dated December 16, 2014, executed between JPL, Growth Capital Trustee Company Private Limited and IVF Holdings, JPL acquired IVF Holdings fom Growth Capital Trustee Company Private Limited, which was holding company of Crystal. Subsequently, the name of IVF Holdings was changed to Spectrum . Spectrum and Crystal held 71.34% and 21.48% respectively of the paid up equity share capital of the company. Subsequently, Spectrum Broadcast Holdings Private Limited and Crystal Sound and Music Private Limited were merged with Jagran Prakashan Limited pursuant to the Scheme of Arrangement with effect from January 1, 2016. The FM Radio Business of Shri Puran Multimedia Limited (SPML) , namely the eight 'Radio Mantra Stations' was demerged into the Company through the Scheme of Arrangement which became effective from November 18, 2016. As consideration for the radio business undertaking of Demerged Company transferred to the Company, the shareholders of Demerged Company were allotted 10 fully paid up equity shares of face value of 10/- each of the Company for every 112 equity shares of Demerged Company held by them. In March 2017, the Company came up with a Public Issue of 14,670,530 Equity Shares by raising money from public aggregating to Rs 488.52 Crore, consisting a Fresh Issue of 12,012,012 Equity Shares aggregating Rs 400 Crore and an Offer for Sale of 2,658,518 Equity Shares aggregating to Rs 88.52 Crore. Radio City introduced the Next Generation of FM Entertainment - VideoCity, India's First Video FM. RadioCity.in launched 9 new web radio stations in FY 2017-18. The Company acquired the Radio Business of Kolkata based 'Ananda Offset Private Limited' (AOPL) by way of Slump Sale as a going concern in April, 2018. It launched Radio City Punjabi, Radio City Indie, Radio City Ghazal and Radio City Marathi, etc. in 2019. About 14 online radio stations were added including Radio City Gold, Radio City Bollywood Mix, Radio City Tamil, Mohammed Rafi and others from regional content to retro classics. In 2022, the Company launched their first international property, Radio City Business Titans. Radio City launched a first-of-its-kind platform 'Cineverve' for pan India promotion of movies combining the power of radio and digital. Radio City Freedom launched several new video formats and IPs to promote independent music and artists, to throve independent music scene in India.