The subscription period for the initial public offering (IPO) of Radiowalla Network Limited commenced on March 27, 2024, and is set to close on April 2, 2024. As of 2:12 PM on the third day of bidding, the IPO has garnered significant interest from primary market investors. Meanwhile, the grey market has reported a consistent premium for shares of Radiowalla Network Limited, with a current premium of ₹40.
Grey Market Premium (GMP) for Radiowalla Network IPO
Market observers have noted that the Grey Market Premium (GMP) for the Radiowalla Network IPO stands at ₹40, unchanged from the previous weekend. They anticipate that the recent positive trend in the stock market, coupled with the strong response to the IPO from primary market investors, will further bolster sentiments in the grey market. Increased investor participation is expected on Tuesday, with many investors poised to act following the bullish trend in both primary and secondary markets after the launch of the SME IPO.
Radiowalla Network IPO Subscription Status
By 2:12 PM on the third day of bidding, the IPO had received bids for 4,23,66,400 company shares against the offered 18,75,200 shares. This indicates that the IPO, valued at ₹14.25 crore, has been oversubscribed by over 22 times. The retail portion of the book-build issue has been oversubscribed by over 58 times, while the Non-Institutional Investor (NII) segment has been subscribed 1.04 times, and the Qualified Institutional Buyer (QIB) portion has been subscribed 100 percent.
Radiowalla Network IPO Review
The SME IPO is priced in the range of ₹72 to ₹76 per equity share. The company raised ₹4 crore from anchor investors through the book-build issue. In FY23, Radiowalla Network witnessed a revenue growth of over 33.50 percent year-on-year (YoY), while its Profit After Tax (PAT) surged by over 115 percent during the same period.
Ashish Kacholia’s Ownership
According to the Red Herring Prospectus of the Radiowalla Network IPO, Ashish Kacholia holds 5,48,405 company shares, representing 10.60 percent of the total paid-up capital of the company.
