BMB Music & Magnetics Share Price

Originally incorporated by Kalyan Neogi and Prabir Kumar Sarkar as Interra Exim Pvt Ltd in Jul.'91, BMB Music and Magnetics was acquired by K C Bokadia and was converted into a public limited company in Mar.'95. The company was engaged in trading activities till Dec.'94. It was trading in various cloth items such as suitings, shirtings, dress materials, etc. The company acquired music rights for certain films for an amount aggregating to Rs 2 cr in Mar.'95. In consideration of this, equity shares of the company have been issued at par. The company proposes to diversify into manufacturing of pre-recorded audio cassettes and compact discs by setting up an unit at Sitapura, Jaipur, with a capacity of 120 lac cassettes pa and 40 lac compact discs pa. It came out with a public issue of 26,18,000 equity shares of Rs 10 each for cash at a premium of Rs 25 per share aggregating Rs 916.44 lac, in Dec.'95, to part-finance its diversification project. Compact disc manufacturing plant is being imported from Laybold, Germany, which will also provide complete technical assistance for manufacturing, as a part of package for supply of plant. During the year 1998-99, the company decided to diversify into making of Software for T.V. Serials, marketing of mega films and construction of multi complex theatre.