Radiowalla Network IPO Strong Debut: Opens with 58% Premium

Radiowalla Network IPO, burgeoning player in in-store radio services sector, made its debut on NSE SME platform with much-anticipated listing. Stock opened at ₹120.15, marking substantial 58% premium over its issue price of ₹76 per share.

Radiowalla Network IPO, which opened for subscription on March 27 & closed on April 2, garnered significant attention from investors. With price band of ₹72 to ₹76 per share, IPO witnessed robust demand, evident from its oversubscription status of 307.54 times on fourth day of bidding.

Read more about Radiowalla Network IPO

Radiowalla Network Limited operates on subscription model, providing in-store radio services tailored for businesses, including brand-exclusive radio channels & corporate radio services for employee engagement. Additionally, company offers advertising services such as point-of-purchase advertising & digital signage solutions, exclusively targeting business-to-business (B2B) market.

The IPO, valued at ₹14.25 crore, comprised fresh issue of 1,875,200 equity shares with face value of ₹10 each. Funds raised through IPO will primarily be allocated towards technology investments, capital expenditures, working capital requirements, & general corporate purposes.

Maashitla Securities Private Limited acted as registrar for IPO, while Narnoli Financial Services Ltd. served as book running lead manager. Ss Corporate Securities & Prabhat Financial Services functioned as market makers for IPO.

Post-listing, Radiowalla Network enjoyed strong premium, with each lot of 1,600 shares delivering profit of ₹70,640. IPO's overwhelming response reflects investor confidence in company's business model & growth prospects.

To Summarize

Radiowalla Network IPO marked successful debut on NSE SME platform, witnessing robust demand from investors. Substantial premium at listing underscores market's positive reception towards company. With its innovative services & strong financials, Radiowalla Network is poised for further growth in burgeoning in-store radio services market.