Radio Mirchi plans presence across India
NEW DELHI: Entertainment Network (India) Limited, (ENIL), a Times Group company, which owns the country’s leading radio broadcasting brand ‘Radio Mirchi’, will further participate in the government’s bidding process, to expand its footprint in the country.
ENIL is entering the capital market to raise around Rs 213 crore by offering Rs 1.32 crore shares, including 12 lakh greenshoe option, in the price band of Rs 144 to Rs 162.
The final offer price would be fixed through book-build route. The issue will remain open for bidding from January 23 to January 27, 2006.
At present, Radio Mirchi has the licence to operate from 16 cities in the country, including the four metros. Out of these 16 licences, it is already operating in 7 cities that include all the four metros, besides Ahmedabad, Indore and Pune, where it is the sole operator.
SOURCE:THE TIMES OF INDIA
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