Entertainment Network India Ltd, that runs FM radio channel Radio Mirchi, today said it has acquired licence to operate in 21 new cities.
The second batch of phase-3 auction was held between October 26 to December 14 last year.
"After this batch of auctions, Entertainment Network India Ltd (ENIL) has acquired licenses in 21 new cities," the company said in a BSE filing.
The total value of bids made by ENIL is Rs 51.3 crore. These frequencies are expected to become operational towards the end of 2017-18, the company added.
"With these 21 cities, the core of Mirchi brand will expand its footprint deeper into strategically important and fast growing cities and states," it said.
The company's presence will increase to 64 cities from 43 cities in India. ENIL had posted a revenue of Rs 508.6 crore and a profit after tax of Rs 100 crore in 2015-16, the company added.
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