Radiowalla Network IPO to open on March 27, price band set at ₹72-76 per share
₹72 to ₹76 per share. At the upper end of the price band, the company plans to raise ₹14.25 crore from the book-built issue which is entirely a fresh issue of 18.75 lakh equity share. The IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is ₹121,600.
Also Read: Blue Pebble IPO: Here's date, price band, size and other key details Radiowalla IPO allotment is expected to be finalized on April 3, 2024, and the equity shares of the company will list on NSE SME with a tentative listing date fixed on April 5, 2024. The company will initiate refunds to unsuccessful bidders on April 4 and will credit the shares into the demat accounts of eligible investors on the same day. Narnolia Financial Services Ltd is the book-running lead manager of the Radiowalla IPO, while Maashitla Securities Pvt Ltd is the IPO registrar.
In the IPO, Radiowalla Network has reserved 50% of the net issue for Qualified Institutional Buyers (QIB), 35% for Retail Investors, and 15% for Non-Institutional Investors (NII). The company proposes to utilise the issue proceeds to meet expenses for investment in technology, capital expenditure, working capital requirements and general corporate purposes. Also Read: Aspire & Innovative IPO price band set at ₹51- ₹54 per share; check issue dates, other details of SME IPO Radiowalla Network Ltd is a provider of in-store radio services on a subscription model basis, which includes an exclusive radio channel for a brand.
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