Music Broadcast Limited (MBL) acquired 24% of the equity share capital of Reliance Broadcast Network Limited (RBNL) by way of a preferential allotment for a total consideration of Rs 202 crores. After that, subject to the receipt of the approval from the Ministry of Information and Broadcasting, MBL will acquire the entire equity stake held by the promoters (Reliance Capital Limited and Reliance Entertainment Networks Private Limited) in RBNL for a cash consideration that will be determined basis of an enterprise value of INR 1050 crores. , according to Equitybulls and reports.

Khaitan & Co advised Music Broadcast Limited led by a team of partner Rajat Mukherjee, principal associate Sarthak Sarin and associate Abhiroop De.

2019-06-12

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