The red herring prospectus of Jagran Prakashan Ltd's proposed IPO for its company subsidiary, Music Broadcast Limited (MBL) has been approved on February 23, 2017. MBL, the radio arm of the company, would have an issue of upto Rs. 400 crore, and will be the second radio company after the Times Group radio arm to list on the bourses.
The offer will be open for subscription to public on Monday, March 06, 2017 and close on Wednesday, March 08, 2017.