At meeting held on 27 May 2019
The Board of Music Broadcast has approved the following -a. Proposed investment, the terms of which are being finalised, in Reliance Broadcast Network (RBNL) by way of a preferential allotment for a 24% equity stake for a consideration of Rs 202 crore; and
b. On receipt of all regulatory approvals, proposed acquisition of the entire stake held by the promoters of RBNL basis an enterprise value of Rs 1050 crore after making adjustment for variation, if any, on the basis of audited accounts for the year ended 31 March 2019.
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