Entertainment Network (India) (ENIL) has acquired licenses in 21 new cities. These are Bhavnagar, Jamnagar, Junagadh, Mehsana, Bharuch and Palanpur in Gujarat, Akola and Amravati in Maharashtra, Tiruchirapalli and Tirunelveli in Tamil Nadu, Rajahmundry in Andhra Pradesh, Warangal in Telengana, Durg/Bhilai and Raigarh in Chhatisgarh, Hubli/Dharwad and Mysuru in Karnataka, Ujjain in Madhya Pradesh, Jhansi in Uttar Pradesh, Asansol and Siliguri in West Bengal and the Union Territory of Puducherry. The company had earlier participated in the 2nd batch of Phase-3 auctions held between October 26 and December 14, 2016.
With these 21 cities, the core Mirchi brand will expand its footprint deeper into strategically important and fast growing cities and states. Its presence will increase from 43 to 64 cities in India. The total value of bids made by ENIL is Rs 51.3 crore. These frequencies are expected to become operational towards the end of FY18.
With this, Mirchi will further cement its leadership position in the radio space. With revenues of Rs 508.6 crore and PAT of Rs 100.0 crore in FY16, it is the leader by far.