Radiowalla Network IPO fully subscribed within 2 hours of launch: Check subscription status, price and other key details

Radio engagement and advertisement solutions provider Radiowalla Network Ltd initial public offer (IPO) has opened to a decent demand from the investors. Radiowalla Network Limited IPO was fully subscribed within less than two hours after launch driven by strong demand from retail investors.

The public issue received bids for 18,76,800 shares compared to 12,36,800 shares on offer till 11:48 am, according to the NSE data. The IPO was subscribed by 1.5 times.

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Radiowalla Network IPO subscription, issue size, price and key dates

The public issue comprises 18,75,200 equity shares, which include a market maker portion of 1.12 lakh shares and an anchor portion of 5,26,400 shares. There is no Offer for Sale (OFS) component.

The Bangalore-based company is looking to raise around ₹14.25 crore through its initial public offering which is a book-built issue.

Radiowalla IPO subscription is open from March 27 to April 2. The company is expected to announce the IPO share allotment on April 3.

Radiowalla Network shares will be listed on the NSE SME platform, Emerge, on Friday, April 5.

The company has fixed the price band at ₹72 to ₹76 per equity share. The lot size for retail investors is 1,600 equity shares, which aggregates to a minimum investment ₹1,15,200 per application.

Maashitla Securities Private Limited is the registrar for Radiowalla IPO. Narnolia Financial Services is the book running lead manager and Ss Corporate Securities is the market maker for Radiowalla IPO.

Radiowalla Network IPO purpose

The company has proposed to utilise the IPO proceeds for investment in technology, meeting capital expenditure and working capital requirements and general corporate purposes.

Radiowalla specialises in providing in-store radio services through a dedicated platform and utilises cloud-based servers and proprietary software. The Bangalore-based company plans to invest ₹3.1 crore in software and hardware to further develop the platform. It has proposed to spend on AWS and ChatGPT softwares.

The company has also proposed to use ₹1.9 crore to meet capital expenditure for visual advertising solutions, including Digital Out-of-Home (DOOH) advertising and Android media players. It plans to use ₹4.5 crore to meet working capital requirements.

About Radiowalla Network Ltd

Radiowalla Network Ltd provides radio engagement and advertisement solutions to businesses in more than 10 countries. It operates under a Business-to-Business (B2B) model and is working with more than 500 brands.

Under the radio vertical the company provides radio services to retailers, malls, and corporate entities. It offers in-store radio services and corporate radio services on a subscription basis.

In-store radio services include exclusive radio channels for a brand on a subscription model basis while corporate radio offers private radio channels for employee engagement in organisations.

Under its advertisement division, it offers services such as digital signage solution, content management services and point of purchase advertising to clients.

Promoter and promoter group entities hold a 55.80% stake in the company while public shareholders hold the rest 44.20% in Radiowalla Network Ltd.

The company reported revenue of ₹13.99 crore in FY 2022-23 against ₹10.49 crore in FY 2021-22. Its revenue was ₹8.71 crore in FY24 until October 31, 2024.

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