ENIL secures MIB approval to transfer four FM station assets to subsidiary

Entertainment Network (India) Ltd has secured approval from the Ministry of Information and Broadcasting (MIB) to transfer four operational FM radio station assets to its wholly owned subsidiary, Alternate Brand Solutions (India) Limited. The approval, conveyed via a letter dated July 17, 2026, covers stations in Hyderabad, Kanpur, Lucknow, and Nagpur. This strategic move allows the company to reorganize its radio assets within the group structure.

The transfer encompasses specific frequencies: Hyderabad (104 MHz), Kanpur (91.9 MHz), Lucknow (107.2 MHz), and Nagpur (91.9 MHz). The MIB’s approval mandates that Alternate Brand Solutions (India) Limited submit a set of compliance documents before the execution of fresh Grant of Permission Agreements (GOPA) for the balance period of the Phase-III permission.

Compliance Requirements

To finalize the transfer, the subsidiary is required to provide several documents to the ministry. These include a certified true copy of a Board resolution delegating the Power of Attorney for executing the GOPA and no-dues certificates from All India Radio (AIR) and Broadcast Engineering Consultants India Limited (BECIL) regarding Entertainment Network (India) Ltd.

Additionally, the subsidiary must submit fresh Performance Bank Guarantees (PBGs) for each channel. The required PBG amounts, based on the Government Rate for FY 2024-25, vary by station location.

Financial Requirements for Transfer

The following table details the annual fees and PBG amounts required for each of the four FM stations:

Sr. No.	Station Name	Frequency (MHz)	Annual Fees/PBG Amount Required (in ₹)
1	Hyderabad	104.0	45,00,000/-
2	Kanpur	91.9	20,01,375/-
3	Lucknow	107.2	35,01,375/-
4	Nagpur	91.9	19,40,835/-

Further procedural requirements include the submission of stamp paper worth ₹100 (two stamp papers for each station) and a complete legal paper set. The MIB has directed the company to submit these documents at the earliest to complete the transfer process.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.15%	+0.66%	-3.53%	-3.55%	-27.21%	-45.64%

ICICI Prudential Mutual Fund has reduced its shareholding in Entertainment Network India Ltd by more than 2% following a series of open market sales conducted between October 16, 2019, and July 2, 2026. The fund executed a net sale of 11,19,753 equity shares, decreasing its stake from 5.004% to 2.655% of the company's paid-up capital. This transaction was disclosed to the stock exchanges under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The disclosure, received by Entertainment Network India Ltd on July 3, 2026, confirmed that the mutual fund's holding is purely from an investment perspective and not intended to acquire controlling interest. The total equity share capital of the company remains ₹ 47,67,04,150, comprising 4,76,70,415 shares of face value ₹10 each.

Shareholding Details

The reduction in stake was achieved through the sale of shares carrying voting rights. The following table outlines the changes in the fund's holdings:

Description	Number of Shares	% of Total Shares
Holding Before Sale
Shares carrying voting rights	23,85,356	5.004
Net Sale
Shares carrying voting rights sold	11,19,753	2.349
Holding After Sale
Shares carrying voting rights	12,65,603	2.655

Regulatory Compliance

The filing was submitted by Rakesh Shetty, Chief Compliance Officer & Company Secretary of ICICI Prudential Asset Management Company Limited. The fund confirmed that the necessary disclosures have been filed with BSE Limited and the National Stock Exchange of India Limited. Entertainment Network India Ltd's Compliance Officer, Mehul Rasiklal Shah, forwarded the disclosure to the exchanges on July 4, 2026.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE265F01028/4b5fc64877604eea.pdf