Thursday, December 3, 2009

Reliance Media World to be listed Friday

Reliance Media World, part of the Reliance Anil Dhirubhai Ambani Group, will make its debut at the National Stock Exchange and the Bombay Stock Exchange Friday, the company said in a statement.

The company runs businesses like leading radio station BIG 92.7 FM, out of home media business BIG Street, digital content provider BIG Digital, and BIG Reach -- the activation division.

"The radio division of Reliance MediaWorks Ltd has been demerged into Reliance Media World," the tatement said.

"The shareholders of Reliance MediaWorks have already been allotted one equity share of Reliance Media World for every one equity share held. The promoter shareholding is at 61.47 percent," it added.

Said Reliance Media chief executive Tarun Katial: "The main purpose of the listing is to unlock shareholder value."
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