Jagran Prakashan rises after Board approves issue for music arm

India Infoline News Service | Mumbai | November 25, 2016 12:03 IST

Jagran Prakashan announced that the Board of Directors of its subsidiary, Music Broadcast at its meeting held on 24 November 2016 has approved an Initial Public Offering.

Jagran Prakashan
Jagran Prakashan Ltd is currently trading at Rs 170.55, up by Rs 1.05 or 0.62% from its previous closing of Rs 169.5 on the BSE.

Jagran Prakashan announced that the Board of Directors of its subsidiary, Music Broadcast at its meeting held on 24 November 2016 has approved its Initial Public Offering. The IPO will comprise of fresh issues aggregating up to Rs 400 crore and an offer for sale by existing shareholders.

The scrip opened at Rs 178 and has touched a high and low of Rs 180 and Rs 170.55 respectively. So far 106719 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 5541.16 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 213 on 08-Sep-2016 and a 52 week low of Rs 142 on 26-Nov-2015. Last one week high and low of the scrip stood at Rs 175.15 and Rs 167.75 respectively.

The promoters holding in the company stood at 60.76 % while Institutions and Non-Institutions held 28.28 % and 10.96 % respectively.

The stock is currently trading below its 50 DMA.

***Note: This is a NSE Chart

 

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