March 17, 2017 / 6:28 AM / 5 months ago

Music Broadcast shares rise on debut after $75 million IPO

Brokers trade on their computer terminals at a stock brokerage firm in Mumbai August 22, 2013.Danish Siddiqui/File Photo

MUMBAI (Reuters) - Shares of Music Broadcast Ltd rose as much as 24.6 percent in their trading debut on Friday, after the radio station operator's initial public offering of shares raised $75 million.

Music Broadcast shares were at 397.55 rupees by 0431 GMT on the National Stock Exchange, having risen to as high as 415 rupees, compared with their issue price of 333 rupees.

Reporting by Swati Bhat and Sankalp Phartiyal; Editing by Subhranshu Sahu

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