Radiowalla Network IPO Allotment Awaited Amid Strong Demand

Radiowalla Network IPO Allotment Awaited Amid Strong Demand/Pixabay

VoM News Desk | April 3, 2024 | 02:47 PM IST | Breaking News | Follow on Google News

Radiowalla Network IPO Allotment Awaited Amid Strong Demand

Radiowalla Network IPO Allotment Awaited Amid Strong Demand

The IPO of Radiowalla Network Limited, a company in Ashish Kacholia’s portfolio, garnered robust demand from investors across categories, closing with an overwhelming subscription rate of 307.54 times. As the bidding phase concluded, investors eagerly anticipate the allotment results expected to be finalized today.

Radiowalla Network IPO Allotment Date and Process:
The allotment date for Radiowalla Network IPO is likely April 3, with refunds for unsuccessful bidders and equity shares credited to eligible investors’ Demat accounts scheduled for April 4. Investors can check their allotment status online through the IPO registrar’s website, Maashitla Securities Private Limited, by following a simple process.

Steps to Check Radiowalla Network IPO Allotment Status:

1. Visit the IPO registrar’s website at the provided link.
2. Select ‘Radiowalla Network Limited’ from the dropdown menu.
3. Choose among PAN, Application Number, or Demat Account Number.
4. Enter the relevant details and submit to view your allotment status.

Strong Subscription and GMP Projection:
Radiowalla IPO witnessed remarkable demand, with subscription rates of 353.98 times in the retail category, 87.96 times among Qualified Institutional Investors (QIBs), and 491.86 times in the Non-Institutional Investors (NIIs) category. The current Grey Market Premium (GMP) stands at ₹38 per share, indicating a premium of ₹114 per share compared to the issue price of ₹76 apiece.

Key Details and Listing Information:
Commencing bidding on March 27 and closing on April 2, Radiowalla Network IPO raised ₹14.25 crore through a fresh issue of 18.75 lakh shares within a price band of ₹72 to ₹76 per share. The IPO lot size was fixed at 1,600 shares. Narnolia Financial Services Ltd acted as the book-running lead manager, overseeing the IPO process, while Maashitla Securities Private Limited served as the IPO registrar. The company specializes in providing in-store radio services on a subscription model basis and offers corporate radio services. Ace investor Ashish Kacholia owns 10.60% of the total paid-up capital of the company, as per the Red Herring Prospectus.

As anticipation builds for the allotment results, investors await the listing of Radiowalla Network shares on April 5 at NSE SME, with expectations riding high on the company’s strong fundamentals and investor interest.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.