Radiowalla Network IPO allotment status expected on April 3: Here's how to check share allocation details
Upstox
3 min read • Updated: April 3, 2024, 3:16 PM
Summary
Radiowalla Network IPO share allotment status will be updated online via the official websites of the issue's registrar, Maashitla Securities Private Limited, and the NSE. The ₹14.25-crore IPO closed on April 2 with an overwhelming subscription of 307 times.
Radiowalla Network IPO allotment is expected to be finalised on Wednesday, April 3. The ₹14.25-crore public issue was received with strong demand from investors, getting oversubscribed 307 times on the final day of bidding on April 2.
The Bengaluru-based company received bids for 38 crore equity shares against 12.36 lakh equity shares on offer, according to NSE data.
The qualified institutional buyers’ segment was booked 88 times while the non-institutional investors’ (NIIs) category was booked 493 times. The retail investors booked their portion 354 times.
The investors, who participated in the bidding, can check the Radiowalla Network IPO allotment details online via the official website of the registrar for the public issue, Maashitla Securities Private Limited. The allotment status will also be updated on the official website of the National Stock Exchange (NSE).
How to check Radiowalla Network IPO allotment status online?
- Log on to the official website of Maashitla Securities Private Limited – https://maashitla.com/
- Click on the allotment status check button on the homepage.
- Select the company's name from the drop-down menu.
- Select any of the PAN/Application Number/ Demant Account Number options and enter the required details.
- Click on ‘submit’ to proceed with the request to check the allotment status.
Your allotment status will be displayed on the screen. In the case of final allotment, the number of allotted shares will also be shown.
Steps to check Radiowalla Network IPO allotment via NSE?
- Go to the NSE's website -- nseIndia.com
- Create a new account by using the required details.
- Log in to your account.
- Select Radiowalla Network IPO from the dropdown list
- Enter PAN details and application number
- Click on submit
Your allotment status in Radiowalla Network IPO will be displayed on the screen.
After successful allotment, Radiowalla Network will start crediting shares into the Demat account of successful bidders along with refunds for non-allottees on Thursday, April 4. Radiowalla Network shares are tentatively scheduled to be listed on NSE’s SME platform, NSE Emerge, on Friday, April 5.
About Radiowalla Network
Radiowalla Network offers radio engagement and advertisement solutions to businesses in over 10 countries. The company operates under a business-to-business (B2B) model with a clientele of over 500 brands.
Radiowalla Network IPO details
Radiowalla Network IPO is a 100% book-built issue consisting entirely of a fresh issue of 18.75 lakh. The Bengaluru-based company reserved 50% of the net issue for QIBs, 35% for retail investors and 15% for NIIs.
Narnolia Financial Services Limited is the sole book-running lead manager for the IPO.
Radiowalla Network IPO's price band was set in the range of ₹72-76 of face value of ₹10 each.
Radiowalla Network IPO lot size was fixed at 1600 shared aggregating to a minimum investment of ₹1.21 lakh by retail investors.
Proceeds from the IPO will be used for investment in technology, financing capital expenditure and working capital requirements.
Part of the money raised shall be invested in hardware and software to develop the company's platform and general corporate purpose.
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