Radiowalla IPO: Radiowalla Network Ltd's IPO, which opened for public subscription on March 27, received an overwhelming response from investors. Till 3:35 pm on the third day of bidding on Monday, the Rs 14.25-crore SME IPO attracted 36.36 times subscription and received bids for 4,49,71,200 shares against 12,36,800 shares on offer.
The non-institutional investor category was subscribed 23.35 times while the retail investor section (RIIs) attracted 62.16 times subscriptions. The Qualified Institutional Buyers (QIBs) quote was subscribed 1.07 times.
The IPO will close on April 2nd.
Radiowalla IPO GMP today
According to market observers, unlisted shares of Radiowalla Network Ltd are trading Rs 43 higher than their issue price in the gray market. The gray market premium or GMP of Rs 43 means that the gray market expects a listing gain of 56.58 percent from the public issue. The GMP is based on market sentiment and is constantly changing.
“Gray market premium” indicates investors’ willingness to pay more than the issue price.
Radiowalla IPO details
Radiowalla's IPO is entirely a fresh issue of shares worth Rs 18.75 lakh. The price range is set at Rs 72 to Rs 76 per share. The minimum lot size for registration is 1,600 shares. The minimum investment amount required for retail investors is Rs 1,21,600. The minimum investment size for HNI is 2 lots (3,200 shares) worth Rs 2,43,200.
Narnolia Financial Services Ltd is the book running lead manager of the Radiowalla IPO while Maashitla Securities Private Limited is the registrar for the issue. The market makers for Radiowalla's IPO are Ss Corporate Securities and Prabhat Financial Services.
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Established in July 2010, Radiowalla Network Limited provides in-store radio services on a subscription basis, which includes an exclusive single-brand radio channel. The company also offers corporate radio services that provide private radio channels for employee engagement within an organization.
In addition, the company offers its customers advertising services such as digital signage solutions, content management services and point-of-purchase advertising. Our services are aimed exclusively at the business-to-business (B2B) sector.
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