Radio Mirchi operator plans IPO

Entertainment Network (India), which operates  Radio Mirchi, is planning to enter the capital market through an initial public offering (IPO).

"The company filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) today," an official release said.

The company will issue 1,20,00,000 equity shares of Rs 10 each for cash at a premium to be decided through the book building process.
Out of the total offering, the company has reserved 2,00,000 equity shares for allotment to employees.

The book running lead managers to the issue are JM Morgan Stanley and Enam Financial Consultants, the release added.