Shareholders have approved the voluntary delisting of Reliance Broadcast Network Ltd (RBNL) from two Indian stock exchanges, according to The Hindu.

RBNL, which runs the radio brand 92.7 BIG FM in 45 cities, held a postal ballot after directors declared a plan to take the company private.

The company says 99.3 per cent of those who voted approved the proposals.

Those voting were so-called non-promoter shareholders, not linked to Reliance’s other companies, which have hefty stakes in RBNL.

RBNL has refused to comment on the reason behind the delisting from the Bombay and National stock exchanges.

As well as radio, RBNL owns television networks and production houses.