Music Broadcast debuted at Rs 420.00 on the BSE, up by 87 points or 26.13% from its issue price of Rs 333.
The scrip is currently trading at Rs 380.10, up by 47.10 points or 14.14% from its issue price. It has touched a high and low of Rs 420.00 and Rs 370.15 respectively. So far 19,25,000 shares were traded on the counter.
The offering, which was open for subscription between March 6 and March 8, was subscribed 39.67 times. The issue price was fixed at Rs 333 per share i.e. at upper end of price band of Rs 324-333apiece.
Music Broadcast operates as a subsidiary of Jagran Prakashan. Music Broadcast is the first private FM radio broadcaster in India operates under the brand name ‘Radio City’. Radio City has grown from four cities in 2001 to 37 cities as on February 2017.