Radiowalla IPO Day 3: Check Subscription Status, GMP Today

Radiowalla IPO: The initial public offering of Radiowalla Network Ltd, which was opened for public subscription on March 27, has 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 received 36.36 times subscription, garnering bids for 4,49,71,200 shares against 12,36,800 shares on offer.

The category for non-institutional investors got subscribed 23.35 times while the portion for Retail Individual Investors (RIIs) attracted 62.16 times subscriptions. The quota for Qualified Institutional Buyers (QIBs) got subscribed 1.07 times.

The IPO will be closed on April 2.

Radiowalla IPO GMP Today

According to market observers, unlisted shares of Radiowalla Network Ltd are trading Rs 43 higher in the grey market as compared with its issue price. The Rs 43 grey market premium or GMP means the grey market is expecting a 56.58 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Radiowalla IPO Details

The Radiowalla IPO is entirely a fresh issue of 18.75 lakh shares. Its price band is fixed at Rs 72 to Rs 76 per share. The minimum lot size for an application is 1,600 shares. The minimum amount of investment required by retail investors is Rs 1,21,600. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to 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 maker for Radiowalla IPO are Ss Corporate Securities and Prabhat Financial Services.

Radiowalla Network Limited, incorporated in July 2010, 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.

Its revenue increased 33.59 per cent and profit after tax (PAT) rose by 117.36 per cent between the financial year ending with March 31, 2023 and March 31, 2022.