Music Broadcast, the operator of FM channel Radio City has raised about Rs 146.56 crore from anchor investors on Friday ahead of its Rs 500 crore initial public offer, which will open on Monday.
Company in a press release said that 44.01 lakh shares have been issued to the anchor investors such as HSBC, Nomura, Franklin India, Morgan Stanley, DSP Blackrock, Reliance MF, HDFC MF, Birla Sunlife MF and UTI MF among others.
The anchor portion which is 30% of the issue size were allotted to the investors at a price of Rs 333 apiece. The company had fixed the price band at Rs 324-333 per equity share for IPO. The company's Rs 500-crore public issue will close on March 8.
Of the total, it will raise Rs 400 crore by issuing fresh shares, while some of its existing investors will sell 26.59 lakhs shares to mobilise about Rs 90 crore.
anchor investors in 91.1 Radio FM Music Broadcast IPO
anchor investors in 91.1 Radio FM Music Broadcast IPO
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