Adlab Films' board has approved the proposal for the demerger of the FM radio business to a wholly owned subsidiary. After the demerger, Adlab shareholders will get two shares in the new company for having one share.
The demerged company is proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange . The scheme also envisages the merger of the two subsidiaries -- Entertainment One and Mukta Adlabs Digital Exhibition with Adlabs Films.
The company expects that the new company will ride high on potentially high radio business. Adlabs Films last month launched a special purpose vehicle for its FM radio foray and sought government clearance for the same.
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