Radiowalla Network Limited, the pioneering provider of in-store radio services, has unveiled the details of its upcoming Initial Public Offering (IPO), marking a significant milestone in its journey. The IPO, valued at Rs 14.25 crores, will be entirely comprised of fresh shares amounting to 18.75 lakh shares.
According to the press release issued by Radiowalla.in, the IPO is scheduled to open for subscription on March 27, 2024, and will conclude on April 2, 2024. The company's shares are set to be listed on the NSE SME. Investors can expect a price band ranging from ₹72 to ₹76 per share, with a minimum lot size requirement of 1600 shares. For retail investors, the minimum investment stands at ₹121,600, while High Net Worth Individuals (HNIs) are required to invest in a minimum of 2 lots, totaling 3,200 shares, amounting to ₹243,200.
Narnolia Financial Services Ltd has been appointed as the book running lead manager for the IPO, with Maashitla Securities Private Limited serving as the registrar for the issue. S S Corporate Securities has been designated as the market maker for the Radiowalla IPO.
The objectives outlined for the IPO include funding investment in technology, meeting capital expenditure requirements, catering to working capital needs, addressing general corporate purposes, and covering issue expenses.
