Radiowalla Network Limited IPO Detail
Incorporated in July 2010, Radiowalla Network Limited provides in-store radio services on a subscription model basis, which includes an exclusive radio channel for a brand. The company also offer corporate radio services, which provide private radio channels for employee engagement within an organisation. Additionally, the company provides advertisement services such as digital signage solution, content management services, and point of purchase advertising to our clients. Our services are exclusively catered to the business-to-business (B2B) sector.
The company provides services directly to other businesses under a Business-to-Business (B2B) model. They have expanded their business into two verticals.
1. Radio Engagement Solutions and Subscription services
2. Advertisement Solutions.
The company offers its services in countries such as UAE, Mexico, Sri Lanka and the Middle East as well.
The revenue of the company has increased from Rs. 585.05 Lakhs in the FY 2021 to Rs. 1049.91 Lakhs in FY 2022.
As of October 31, 2023, the company has 54 permanent employees.
Company Promoters
Mr. Anil Srivatsa, Ms. Gurneet Kaur Bhatia and Mr. Harvinderjit Singh Bhatia.IPO Details
| IPO Opening Date | Mar 27, 2024 |
| IPO Closing Date | Apr 02, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹72 - 76 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹14.25 Cr |
| Fresh Issue | ₹14.25 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 1.02x | 0.00x | 0.00x | 3.78x | 11.56x | 6.88x |
| Day 2 | 1.07x | 0.00x | 0.00x | 7.46x | 27.54x | 15.66x |
| Day 3 | 1.09x | 0.00x | 0.00x | 28.64x | 71.62x | 42.23x |
| Day 4 | 87.96x | 0.00x | 0.00x | 491.86x | 353.98x | 307.54x |
IPO Tentative Timetable
The Radiowalla Network Limited IPO open date is Mar 27, 2024, and the close date is Apr 02, 2024. The issue may list on Apr 05, 2024.
| IPO Open Date | Mar 27, 2024 |
| IPO Close Date | Apr 02, 2024 |
| Basis of Allotment Date | Apr 03, 2024 |
| Initiation of Refunds | Apr 04, 2024 |
| Credit of Shares to Demat Account | Apr 04, 2024 |
| IPO Listing Date | Apr 05, 2024 |
IPO Lot Size
The Radiowalla Network Limited IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹121600).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹121600 |
| Maximum | 1 | 1600 | ₹121600 |
IPO Promoter Holding
| Pre Issue Share Holding | 55.80% |
| Post Issue Share Holding | 40.95% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 530.81 | 589.54 | 10.18 |
| 31-Mar-22 | 527.53 | 1050.12 | 47.01 |
| 31-Mar-23 | 813.53 | 1402.89 | 102.18 |
| 31-Oct-23 | 883.29 | 871.99 | 113.99 |
Objects of the Issue:
The objects of the Issue are: -
- To meet out the expenses for Investment in Technology
- To meet out the Capital Expenditure for the Company
- To meet out the Working Capital requirements of the Company
- To meet out the General Corporate Purposes; and
- To meet out the Issue Expenses.
Radiowalla Network Limited IPO Registrar:
Maashitla Securities Pvt. Limited
Radiowalla Network Limited IPO Lead Manager(s):
Narnolia Financial Services Ltd
Company Contact Information:
Radiowalla Network Limited
603, Sudhama Niwas 16th Road
Khar
(W), Mumbai-400052
