Reliance Broadcast is in talks with several private equity players and strategic investors to raise Rs. 300-400 crore ($64-$86 million) through a fresh equity issue. The Anil Dhirubhai Ambani Group firm, which runs its radio business under BIG FM and has launched three English entertainment channels under its joint venture with a division of CBS Corp, plans to expand footprint across the country.The promoters share will not be diluted. It will be the expansion of the equity base. The firm, which has a total debt of Rs 120 crore on its books, has mandated Yes Bank for the transaction and hopes to conclude the deal in the next quarter. The funds will help the company expand their radio business.
In July, the government raised foreign direct investment in the radio sector, which is estimated to have a market size of Rs 1,200 crore in India, to 26% from 20% and green lighted an auction of more spectrum for radio to raise Rs 1,733 crore. The company, which has earmarked investments of Rs. 200-250 crore in capital expenditure and operating expenses on the upcoming Phase 3 of FM radio auctions, hopes to have around 100 radio stations after the auctions end. The radio business, which operates at close to a 20% margin and contributes 60% to the overall revenues, is expected to grow 20%. Once the phase 3 auctions are completed, the company can expect a growth rate of 30% in the radio business. The company posted a consolidated net loss of Rs 29.13 crore on total income of Rs 74.53 crore in the quarter ended June. Reliance Broadcast, is also in talks with several global players for a strategic tie-up in its intellectual property (IP) business and hopes to announce a deal by the end of the december quarter.crackcrack
| Company Name | CMP |
|---|---|
| PVR | 1325.00 |
| Saregama India | 478.00 |
| Eros Internatl.Media | 19.96 |
| Shemaroo Entertain. | 143.15 |
| Balaji Telefilms | 69.65 |
| View more.. | |
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Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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