Jagran Prakashan Ltd arm Music Broadcast Ltd files DRHP with SEBI for IPO

Jagran Prakashan Ltd's subsidiary, MBL has filed its draft red herring prospectus with the Securities and Exchange Board of India on November 28, 2016 in order to undertake an initial public offering (the "IPO"). The IPO will comprise of a fresh issue aggregating upto Rs. 4,000 million and an offer for sale of upto 2,658,518 equity shares by certain existing shareholders of MBL. JPL is not selling any of its shareholding in MBL under the offer for sale portion.

Shares of JAGRAN PRAKASHAN LTD. was last trading in BSE at Rs.171.15 as compared to the previous close of Rs. 169.7. The total number of shares traded during the day was 1469 in over 91 trades.

The stock hit an intraday high of Rs. 173 and intraday low of 170.1. The net turnover during the day was Rs. 252088.

Source : Equity Bulls

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