Radiowalla Network’s IPO Opens On March 27

The IPO price band is set at Rs72 to Rs76 per share; The company offers its services in countries such as UAE, Mexico, Sri Lanka and the Middle East as well

FinTech BizNews Service   

Mumbai, March 22, 2024: Radiowalla.in “Radiowalla Network Private Limited” is a book built issue of Rs 14.25 crores. The issue is entirely a fresh issue of 18.75 lakh shares. The IPO opens for subscription on March 27, 2024 and closes on April 2, 2024. It will list on NSE SME. The IPO price band is set at Rs72 to Rs76 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is Rs121,600. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to Rs243,200.

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 maker for Radiowalla IPO is S S Corporate Securities.

The Objectives of IPO

 To meet out the expenses for Investment in Technology

1. To meet out the expenses for Investment in Technology
2. To meet out the Capital Expenditure for the Company
3. To meet out the Working Capital requirements of the Company
4. To meet out the General Corporate Purposes; and
5. To meet out the Issue Expenses.

About Radiowalla Network 

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. 

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.

Radiowalla Network Limited's revenue increased by 33.59% and profit after tax (PAT) rose by 117.36% between the financial year ending with March 31, 2023 and March 31, 2022.