MUMBAI: Reliance ADAG's radio business Big FM, which recently got demerger approval from Adlabs Films Ltd (AFL), will be listed under Reliance Media World Ltd (RMWL).
Big FM had earlier got the nod to demerge from Adlabs Films and would have moved to Reliance Unicom Ltd. But Reliance Unicom has been renamed as RMWL.
The company has fixed 7 August as record date for determination of its shareholders who are entitled to receive shares of the demerged subsidiary.
As per the scheme of arrangement between AFL and RMWL, the shareholders of AFL will receive shares of Reliance Media World Ltd in the ratio of 1:1.
Big FM had earlier got the nod to demerge from Adlabs Films and would have moved to Reliance Unicom Ltd. But Reliance Unicom has been renamed as RMWL.
The company has fixed 7 August as record date for determination of its shareholders who are entitled to receive shares of the demerged subsidiary.
As per the scheme of arrangement between AFL and RMWL, the shareholders of AFL will receive shares of Reliance Media World Ltd in the ratio of 1:1.