Music Broadcast Limited, the company behind Radio City, has announced the successful redemption of its non-convertible, non-cumulative redeemable preference shares (NCRPS), marking an important financial milestone. The redemption was completed in full on January 19, 2026, with the company returning the principal amount along with the agreed premium to all preference shareholders.
In total, Music Broadcast Limited redeemed 8,969,597 preference shares. Each share carried a face value of ₹10 and was originally issued at a premium of ₹90. Following the completion of the stipulated tenure of 36 months, the company redeemed these shares at a higher premium of ₹120 per share, including an additional premium of ₹20 at maturity. The total payout for the redemption amounted to ₹107.63 crore.
The company confirmed that the entire redemption amount was funded through its distributable reserves, reflecting a strong and disciplined capital management approach. Importantly, the redemption was executed strictly on maturity, with no partial redemptions or delays, ensuring a smooth and timely settlement for all eligible shareholders. Music Broadcast Limited also clarified that there are no outstanding obligations related to these preference shares following the completion of the process.
In addition to the redemption, the company highlighted that it had paid an interim dividend of 0.1% on the preference shares for the financial year 2025–26. The dividend, amounting to ₹0.01 per share, was declared with January 9, 2026, as the record date and was paid out on January 19, 2026.
By completing the full redemption on schedule and meeting all dividend commitments, Music Broadcast Limited has reinforced its focus on financial prudence, transparency and timely returns to investors, strengthening confidence in its capital and governance practices.
