IPO
Radiowalla Network’s Rs.14-Cr IPO subscribed 307 times
Bengaluru-based Radiowalla Network Ltd’s IPO was subscribed more than 307 times on the final day of bidding on April 2. Applications for 38.04 crore equity shares were received against 12,36,800 equity shares on offer. The portion reserved for RIIs (retail individual investors) witnessed around 354 times subscriptions. Non-institutional investors’ (NIIs) category was booked 493 times. The qualified institutional buyers’ portion was booked 88 times.Radiowalla Network launched the IPO on March 28 to raise INR 14.25 crore through its 100% book-built issue. It had raised around INR 4 crore from anchor investors ahead of the launch of the IPO. The company fixed the price band at INR 72-76 per equity share. The shares were proposed to be listed on the NSE SME platform on Friday, April 5.Radiowalla Network provides radio engagement and advertisement solutions to businesses in more than 10 countries. Incorporated in 2010, the company operates under a business-to-business (B2B) model and is working with more than 500 brands.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
