Radiowalla Network Limited an in-store radio service, audio content, and digital signage solutions provider released its initial public offering (IPO). After gaining an astonishing investor interest is being subscribed 307.54 times. Radiowalla Network has opened bidding for IPO on 27 March till 2 April which attained great interest in all categories of investors.
The enthusiastically awaited Radiowalla Network’s share will be listed on April 5 on the NSE and SME platforms. They are expecting a raise of approximately 14.25 crore through this IPO by offering 18.75 lakh shares. The minimum bundle of shares offered in this IPO was 1,600 pricing between 72 to 76 Rupees. It indicates a strong faith in the company’s future growth prospects.
Investors were keenly looking for the allotment status and visiting the IPO Registrar’s website which is Maashitla Securities Pvt. Ltd. Investors were eager to know whether they had been allotted or not.
Unsuccessful applicants will receive refunds by 4 April and successful bidders will get their shares in Demat accounts.
The demand was quite high among retail investors, as they have subscribed to this IPO around 353.98 times. Along with retail investor different sectors have also shown attentiveness like Qualified Institutional Buyers (QIB) subscribed 87.96 times and Non-Institutional Investors (NII) subscribed 491.86 times.
Radiowalla Network IPO’s Grey Market Premium (GMP) is standing at 38 Rupees per share today. Market analysts are peeking over its GMP because its potential listing will likely be 38 Rupees per share exceeding from issued price of 76 Rupees which is a significant 50% premium.
