Announced Sat, 18 Jul · 13:47 IST
MIB approves transfer of 4 FM stations to ENIL wholly owned subsidiary
Regulatory & Legal View source PDF
ENIL · price
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Price reaction · full curve 14 horizons · vs prior close
-0.4%1-day move
₹107.40
prior close
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base price
After-mkt
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AI summary
MIB has approved ENIL's transfer of four FM radio stations - Hyderabad 104 MHz, Kanpur 91.9, Lucknow 107.2 and Nagpur 91.9 - to its wholly owned subsidiary Alternate Brand Solutions (India) Limited. The subsidiary must submit performance bank guarantees totalling about 1.19 crore rupees, along with other documents, before signing a fresh Grant of Permission Agreement for the balance of the Phase III period.
Likely market impact
Restructures FM radio business into a subsidiary, which may allow sharper focus. Several compliance steps remain before the transfer is finalised.