Radiowalla IPO is a book built issue of Rs 14.25 crores. The issue is entirely a fresh issue of 18.75 lakh shares.
Radiowalla IPO bidding opened for subscription on March 27, 2024 and will close on April 2, 2024. The allotment for the Radiowalla IPO is expected to be finalized on Wednesday, April 3, 2024. Radiowalla IPO will list on NSE SME with tentative listing date fixed as Friday, April 5, 2024.
Radiowalla IPO price band is set at ₹72 to ₹76 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹121,600. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹243,200.
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.
Refer to Radiowalla IPO RHP for detailed information.
Radiowalla IPO Details
| IPO Date | March 27, 2024 to April 2, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹72 to ₹76 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 1,875,200 shares (aggregating up to ₹14.25 Cr) |
| Fresh Issue | 1,875,200 shares (aggregating up to ₹14.25 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 5,173,036 |
| Share holding post issue | 7,048,236 |
| Market Maker portion | 112,000 shares Ss Corporate Securities Prabhat Financial Services |
Radiowalla IPO Reservation
Radiowalla IPO offers 1,875,200 shares. 353,600 (18.86%) to QIB, 265,600 (14.16%) to NII, 617,600 (32.94%) to RII and 526,400 (28.07%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 526,400 (28.07%) |
| Market Maker Shares Offered | 112,000 (5.97%) |
| QIB Shares Offered | 353,600 (18.86%) |
| NII (HNI) Shares Offered | 265,600 (14.16%) |
| Retail Shares Offered | 617,600 (32.94%) |
| Total Shares Offered | 1,875,200 (100%) |
Radiowalla IPO Anchor Investors Details
Radiowalla IPO raises Rs 4.00 crore from anchor investors. Radiowalla IPO Anchor bid date is March 26, 2024. Radiowalla IPO Anchor Investors list
| Bid Date | March 26, 2024 |
| Shares Offered | 526,400 |
| Anchor Portion Size (In Cr.) | 4.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | May 3, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | July 2, 2024 |
Radiowalla IPO Timeline (Tentative Schedule)
Radiowalla IPO opens on March 27, 2024, and closes on April 2, 2024.
| IPO Open Date | Wednesday, March 27, 2024 |
| IPO Close Date | Tuesday, April 2, 2024 |
| Basis of Allotment | Wednesday, April 3, 2024 |
| Initiation of Refunds | Thursday, April 4, 2024 |
| Credit of Shares to Demat | Thursday, April 4, 2024 |
| Listing Date | Friday, April 5, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 2, 2024 |
Radiowalla IPO Lot Size
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹121,600 |
| Retail (Max) | 1 | 1600 | ₹121,600 |
| HNI (Min) | 2 | 3,200 | ₹243,200 |
| Lot Size Calculator | |||
Radiowalla IPO Promoter Holding
The promoters of the company are Mr. Anil Srivatsa, Ms. Gurneet Kaur Bhatia and Mr. Harvinderjit Singh Bhatia.
| Share Holding Pre Issue | 55.80% |
| Share Holding Post Issue | 40.95% |
About Radiowalla Network Limited
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. Our services are exclusively catered to the business-to-business (B2B) sector.
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.
The revenue of the company has increased from Rs. 585.05 Lakhs in the FY 2021 to Rs. 1049.91 Lakhs in FY 2022.
As of October 31, 2023, the company has 54 permanent employees.
Radiowalla Network Limited Financial Information (Restated Consolidated)
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.
| Period Ended | 31 Oct 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 883.29 | 813.53 | 527.53 | 530.81 |
| Revenue | 871.99 | 1,402.89 | 1,050.12 | 589.54 |
| Profit After Tax | 113.99 | 102.18 | 47.01 | 10.18 |
| Net Worth | 552.75 | 335.08 | 36.37 | -10.65 |
| Reserves and Surplus | 576.16 | 362.09 | 58.25 | 12.11 |
| Total Borrowing | 52.05 | 78.74 | 69.64 | 83.04 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Radiowalla IPO is Rs 53.57 Cr.
KPI as of October 31, 2023.
| KPI | Values |
|---|---|
| ROE | 20.62% |
| ROCE | 21.28% |
| Debt/Equity | 0.09 |
| RoNW | 20.62% |
| P/BV | 0.65 |
Check Radiowalla IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.98 | 2.77 |
| P/E (x) | 38.48 | 27.41 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of October 31, 2023 that is available in RHP.
Objects of the Issue (Radiowalla IPO Objectives)
The objects of the Issue are: –
- To meet out the expenses for Investment in Technology
- To meet out the Capital Expenditure for the Company
- To meet out the Working Capital requirements of the Company
- To meet out the General Corporate Purposes; and
- To meet out the Issue Expenses.
Radiowalla IPO Review (Apply)
[Dilip Davda] With the changed lifestyle post covid, new technology is in place on all customer servicing related aspects. This company has played a niche role in enhancing the retail market ambience with new technological solutions and is gaining grounds. It has many renowned customers like ITC, HUL, LIC, Tanishq, Orra etc. Though prima-facie, the issue appears fully priced, it is worth considering for the handsome rewards. Investors may consider parking fund for the medium to long term rewards. Read detail review…
Radiowalla IPO Subscription Status (Bidding Detail)
The Radiowalla IPO is subscribed 15.66 times on March 28, 2024 7:29:36 PM. The public issue subscribed 27.54 times in the retail category, 1.07 times in the QIB category, and 7.46 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.07 |
| NII | 7.46 |
| Retail | 27.54 |
| Total | 15.66 |
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