Radiowalla Network IPO to open on March 27, price band set at ₹72-76 per sharePersonal FinanceRadiowalla Network IPO to open on March 27, price band set at ₹72-76 per share

Radiowalla Network IPO to open on March 27, price band set at ₹72-76 per share


Radiowalla Network IPO: Radio services provider Radiowalla Network Ltd is set to launch its initial public offering (IPO) on March 27. Radiowalla Network IPO is an SME IPO and will conclude on April 2.

Radiowalla Network IPO price band has been set at 72 to 76 per share. At the upper end of the price band, the company plans to raise 14.25 crore from the book-built issue which is entirely a fresh issue of 18.75 lakh equity share.

The IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is 121,600. 

Also Read: Blue Pebble IPO: Here’s date, price band, size and other key details

Radiowalla IPO allotment is expected to be finalized on April 3, 2024, and the equity shares of the company will list on NSE SME with a tentative listing date fixed on April 5, 2024.

The company will initiate refunds to unsuccessful bidders on April 4 and will credit the shares into the demat accounts of eligible investors on the same day.

Narnolia Financial Services Ltd is the book-running lead manager of the Radiowalla IPO, while Maashitla Securities Pvt Ltd is the IPO registrar.

In the IPO, Radiowalla Network has reserved 50% of the net issue for Qualified Institutional Buyers (QIB), 35% for Retail Investors, and 15% for Non-Institutional Investors (NII).

The company proposes to utilise the issue proceeds to meet expenses for investment in technology, capital expenditure, working capital requirements and general corporate purposes.

Also Read: Aspire & Innovative IPO price band set at 51- 54 per share; check issue dates, other details of SME IPO

Radiowalla Network Ltd is a provider of in-store radio services on a subscription model basis, which includes an exclusive radio channel for a brand. It also offers corporate radio services, advertisement services and content management services. 

It provides services directly to other businesses under a Business-to-Business (B2B) model and has expanded its business into two verticals – Radio Engagement Solutions and Subscription services and Advertisement Solutions.

Anil Srivatsa, Gurneet Kaur Bhatia and Harvinderjit Singh Bhatia are the promoters of the company. 

Radiowalla Network reported a net profit of 1.02 crore and revenue of 14.02 crore in the financial year ending March 31, 2023. The company’s net profit for the period ending October 2023, was 1.14 crore and revenue was 8.72 crore.

Read all IPO news here

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Published: 21 Mar 2024, 10:02 AM IST

Disclaimer: Along with publishing our own news, we get news from various sources namely from news wires ANI, PTI, other reputed finance portals and individual journalists. We are not legally liable for any inaccuracies in the news and expect the reader to do their own due diligence.

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Finance enthusiast, Mutual fund expert.




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