Intimation under Regulations 30 and Regulation 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
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Music Broadcast Limited has informed its Non-Convertible Non-Cumulative Redeemable Preference Share (NCRPS) holders about the tax deduction process applicable to the interim dividend and redemption amount approved by the Board on January 5, 2026. The Board declared an interim dividend of 0.1% (₹0.01 per NCRPS of ₹10 face value) for FY 2025-26. The NCRPS will be redeemed at ₹120 per share upon maturity, as per the original Scheme of Arrangement. The record date is January 9, 2026, and NCRPS holders must submit required documents (PAN, residential status, exemption forms) by January 13, 2026 to ensure correct TDS deduction. TDS rates vary from 0% (for eligible categories like mutual funds, insurance, government) to 20% or 30% depending on residential status and PAN validity.
This is a routine tax-compliance communication and does not affect equity shareholders directly. NCRPS holders should ensure they submit the required documents before January 13, 2026 to avoid higher TDS deduction (up to 20% for invalid PAN). The redemption of NCRPS at ₹120 per share against a face value of ₹10 represents a significant premium being returned to NCRPS holders.