Big FM to get listed on BSE and NSE within 2 months
To infuse funds for its business expansion and to independently manage the operations, Big FM, will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) within the next two months, reports Business Standard.
It will be the second FM radio operator to have listed on the BSE, after Entertainment Networks India that operates its radio business under the Radio Mirchi brand.
After listing, Reliance Unicom will be the holding company of the Big FM brand.
It is learnt that Reliance Unicom may go in for an initial public offer (IPO) too. So far, the radio business of the Reliance ADA group was clubbed with Adlabs Films, its film exhibition arm that is already listed on the BSE.
The move to list Big FM comes shortly after the ministry of information and broadcasting (I&B) gave its no-objection nod to Adlabs Films’ proposal for demerger of the radio operations from its overall business.
Adlabs is the license holder of Big FM. Post-demerger, the licenses to operate the 45 Big FM stations will also be transferred to Reliance Unicom.
