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Media and entertainment firm Reliance Broadcast Network may delist its equity shares from the stock exchanges.
The Anil Ambani group company’s board is set to meet on Wednesday to discuss the matter.
“A meeting of the board of directors of the company will be held on September 18, 2013 to consider delisting of equity shares of the company from stock exchanges,” the company, which is listed on BSE and NSE, said in a filing.
A company spokesperson did not comment on the reason behind the proposal for delisting.
The company, which operates FM Radio stations and television stations in India, had posted a net profit of Rs 0.21 crore on revenues of Rs 57.56 crore in the quarter ended June 30. Analysts believe the company may have decided to delist in order to restructure its business away from the gaze of investors and the markets.
A stake-sale could also be on the cards, they say. Decreasing advertising revenues and the advent of digitisation have made 2013 a difficult year for media and entertainment companies.
Promoter group companies Reliance Capital, Reliance Land and Reliance ADA group Trustees held 72.09 per cent stake in the company, shareholding pattern for June 2013 shows.
On Monday, the company’s scrip was down 0.11 per cent at Rs 72.09 on the BSE.
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