MUMBAI: Reliance Broadcast Network (RBNL), the Reliance ADAG?s multi-media entertainment company with businesses across radio, television, intellectual properties, out of home and television production, has appointed Madhukar Pandey as business head for its Central India Cluster covering UP, MP, Bihar and Jharkhand.

This cluster would include RBNL?s variety entertainment channel Big Magic and Big FM?s network of 11 stations in the cluster.

Pandey will report to RBNL EVP marketing and Big Magic Anand Chakravarthy.

In his new role Pandey will be responsible for the overall functioning of the businesses in the Central India region, in functions that would range marketing and sales, managing the P&L and overseeing the product development and implementation of plans in the region.

"We are pleased to have someone who brings a hands-on approach to running a business as well as creativity, on board RBNL. Madhukar will lead Big Magic and Big FM?s operations in the highly competitive and growing central Indian market. With his unique depth of experience in the region, I am sure he will contribute enormously to help take the company to greater heights," Chakravarthy said.

Pandey added, "The values and winning culture of RBNL are truly motivating and I am sure this new journey is going to be very fulfilling. I look forward to capitalise on the many opportunities that lie ahead and set new benchmarks in this challenging role."

Prior to joining RBNL, Pandey was with MetLife Insurance serving as GM regional head.

He comes with over 14 years of experience in areas such as life insurance and information technology. He started his career in the area of IT education and served organisations such as NIIT, CMC, and Informatics in various capacities.

Later, he made a transition into the life insurance space and spent over seven years working with ICICI Prudential Life Insurance, HDFC Standard Life and MetLife Insurance.

MUMBAI: Reliance Broadcast Network (RBNL), the holding company of Reliance ADAG?s FM radio and broadcasting businesses, is once again looking to raise up to Rs 4 billion and is in talks with various private equity firms.

Talking to Indiantelevision.com, RBNL chief financial officer Asheesh Chatterjee said: "We are planning to raise up to Rs 3-4 billion this fiscal to fund expansion in radio and TV broadcasting businesses. We have appointed Yes Bank as one of our investment bankers and are in talks with private equity players."

RBNL?s debt stands at Rs 1.2 billion. "We will repay the debt completely after raising the funds," Chatterjee said.

In September 2010, the company had raised Rs 2.83 billion via preferential allotment of 33.32 million equity shares at a price of Rs 85 per share. The promoters had pumped in Rs 1.73 billion at that time, subscribing to 20.37 million shares. The remaining amount came from the investors.

The company had used Rs 2 billion out of that to partly repay debt while the remaining was spent on launching channels, said Chatterjee.

In the fresh fund-raising activity, the company is open to all instruments such as private equity, QIP and strategic investment. The equity of the company will be expanded and the promoters are not going to offload any stake, Chatterjee averred.

The promoter holding stands at 63.87 per cent, according to data provided by the company till 30 June 2011.

Apart from repayment of debt, the company needs funds to participate in the FM phase III auction. "Phase III will need growth capital and we will be very serious contenders at the auctions," Chatterjee said.

Shares of RBNL rose 3.3 per cent to close Monday at Rs 78.15 on the BSE.