Music Broadcast Limited – Issue subscribed

The simultaneous fresh issue to raise Rs 400 crs and an offer for sale of 26.58 lakhs in a price band of Rs 324-333 was subscribed. Earlier the company had allotted 44.01 lakh shares to 15 anchor investors comprising of 19 entities at the top end of the price band.

The issue was oversubscribed an overall 3.67 times with the QIB portion subscribed 39.78 times, HNI 109.13 times and Retail 9.85 times. In terms of applications the total received was 9.19 lakh applications which means that the retail portion is subscribed 8.06 times.

The full details of subscription are given below:-

Bucket Size Shares Applied for Times oversubscribed
QIB 2978685 118477260 39.78
HNI 2250630 245615625 109.13
Retail 5251469 51728400 9.85
Total 10480784 415821285 39.67
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