Reliance Media World listing | Reliance Media World listing Price

Reliance Media World listing | Reliance Media World listing Price
Anil Ambani group firm Reliance Media World, today got listed at Rs 89.75 on the Bombay Stock Exchange.

The shares of the company, which operates radio station Big 92.7 FM, opened at Rs 89.75 and soon gained momentum to touch a high of Rs 138.40 on the BSE.

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.”

–IANS

Anand Shah of Angel Broking feels that Reliance Media World does not deserves a premium over ENIL.

Shah told CNBC-TV18, “Our fair valuations for Reliance Media World were significantly lower than the current market price of Rs 120. It is trading at a premium because it is at a price discovery stage. People have accorded a valuation almost at no discount. In fact, at a premium to ENIL it is the major peer comparison that is there. At Rs 120, it is almost trading at roughly Rs 600-650 crore market cap at an EV of almost close to Rs 900- Rs 1,000 crore. Even ENIL is trading at a similar EV at about Rs 1,100 crore.”

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