I&B Ministry
Radio City IPO to open on 6 March
BENGALURU: The Initial Public Offering of (IPO) of shares of Music Broadcast Limited (MBL), the company that has the Radio City network will commence of 6 March 2017. Besides Radio City the company has a sales alliance with Suno Lemon 91.9 FM and Friends 91.9 FM in Kolkata and 40 web stations in eight languages. The company has grown its presence from four cities in 2001 to 37 cities as of mid-February this year. Under the Phase III Policy, MBL acquired 11 additional radio stations, of which 9 are already operational.
The board of MBL had informed the stock exchanges through its parent and listed company Jagran Prakashan Limited (JPL) about the decision to hold the IPO on 24 November 2016. MBL had a turnover of Rs 240 crores in fiscal 2016 and a net worth if Rs 99.54 crore as per a JPL filing in November 2016.
According to an MBL filing at the bourses, the book building IPO comprises of equity shares of face value of Rs 10 each for cash at a premium consisting of a fresh issue of up to Rs 400 crore and an offer for sale up to 2,658,518 equity shares by the selling shareholders .The offer will close on Wednesday, 8 March 2017. The Price Band for the Offer is fixed from Rs 324 to Rs 333 per equity share. The sole Book Running Lead Manager to the offer is ICICI Securities Limited. The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
MBL will be the second radio operator to list on the bourses after Times Group-controlled Entertainment Network India Ltd, which runs Radio Mirchi.
Also Read:
Music Broadcast plans IPO; to make buys
I&B Ministry
IT Rules tweaks are clarificatory, not expansion of powers: MeitY
Govt signals flexibility as platforms push for clarity on user content rules
NEW DELHI: The Centre has sought to dial down concerns over its proposed amendments to the IT Rules, with Ministry of Electronics and Information Technology secretary S Krishnan asserting that the changes are intended as clarifications rather than an expansion of regulatory powers.
Pushing back against criticism from platforms and civil society, S Krishnan said the amendments “do not in any way actually give us wider powers” and are meant to remove ambiguity in how existing provisions are applied. He added that the trigger came largely from within the ecosystem, with intermediaries themselves seeking clearer guidance on compliance, takedowns and record preservation.
At the heart of the debate is the growing friction between platforms and policymakers over responsibility for user-generated content. Intermediaries have argued that they should not be treated on par with publishers, particularly when content is created and uploaded by users. Krishnan acknowledged this concern, noting that “a sharper distinction” between user content and publisher content is needed and is currently under examination.
The issue becomes more complex in enforcement scenarios. While registered publishers can be directly asked to modify or remove content, intermediaries often lack control over the original creator. “In such cases, the intermediary cannot direct those changes,” Krishnan explained, underlining the need for procedural nuance.
Another key proposal under discussion is to bring user-generated news and current affairs content within a more unified regulatory ambit, potentially under the Ministry of Information and Broadcasting. The move follows suggestions that a single authority should handle such content, regardless of whether it originates from a publisher or an individual user.
Even as the government frames the amendments as a tidy-up exercise, fault lines remain. Industry players have flagged concerns over compliance burdens, especially for smaller businesses, and questioned whether advisories could effectively become binding without explicit legislative backing. Krishnan said the government is mindful of these risks and is exploring ways to ease obligations, including possible relaxations under certain provisions.
The ministry is also considering consolidating multiple advisories and guidelines into a more structured framework, a step widely seen as addressing long-standing confusion over what platforms are expected to follow.
On takedowns, the government has reiterated that due process will remain unchanged. Krishnan stressed that actions will continue to be governed by established procedures, with reasons recorded and review mechanisms in place. He also pointed to the surge in deepfakes and synthetic media as a factor behind rising content disputes, calling it a “scale challenge” for regulators.
Interestingly, Krishnan also framed social media platforms as commercial entities rather than pure vehicles of free expression, hinting at a broader shift in regulatory thinking as platform economics come into sharper focus.
With stakeholders seeking more time and, in some cases, a rollback of the proposals, the government has kept the consultation process open-ended. Krishnan said further revisions remain on the table, signalling a willingness to adapt the draft based on feedback.
For now, the message from MeitY is clear: the rules may not be tightening in intent, but the effort to define them more clearly is well underway.
