Announced Sat, 18 Jul · 13:42 IST
MIB approves transfer of four FM stations to 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
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
————-0.4+0.2-0.8-1.3-0.4—————
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AI summary
The Ministry of Information and Broadcasting has approved transferring four FM radio stations (Hyderabad 104, Kanpur 91.9, Lucknow 107.2, and Nagpur 91.9 FM) from ENIL to its wholly owned subsidiary, Alternate Brand Solutions (India) Limited. The subsidiary must submit bank guarantees of about Rs 1.19 crore, no dues certificates, and other documents before executing a fresh Grant of Permission Agreement.
Likely market impact
Internal group restructuring with key regulatory approval secured. Subsidiary still needs to complete documentation before the transfer is finalised.