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Music Broadcast whose initial public offer, opens on Monday, allotted 44.01 lakh shares to 15 anchor investors, raising ₹146.56 crore at the upper end of the price band of ₹333 a share. The company operates the Radio City FM station.
The investors include funds run by HSBC, Nomura, Franklin Templeton, Morgan Stanley, DSP BlackRock, ICICI Prudential, Reliance Capital, HDFC and Birla Sun Life.
The company has fixed a price band of ₹324-333 a share to raise up to ₹400 crore through primary capital, while existing investors will sell shares worth about ₹88.5 crore through an offer-for-sale.
The offer closes on March 8.
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