Radiowalla Network IPO: Subscription for the initial public offering (IPO) of Radiowalla Network Limited opened on 27th March 2024 and will remain open till 2nd April 2024. So, bidding for the NSE SME IPO ends on Tuesday this week. By 2:12 PM on day 3 of bidding, Radiowalla Network IPO subscription status signals a strong response by the primary market investors. Meanwhile, the grey market has remained steady regarding the Radiowalla Network IPO. According to stock market observers, shares of the Ashish Kacholia portfolio company Radiowalla Network Limited are available at a premium of ₹40 in the grey market today.
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Radiowalla Network IPO GMP today
Market observers said that Radiowalla Network IPO GMP (grey market premium) today is ₹40, which is unchanged from its weekend GMP. They said that trend reversal on Dalal Street and a strong response by the primary market investors are expected to fuel grey market sentiments. They predicted high investor turnout on Tuesday as investors in wait-and-watch mode might come out in high numbers after the bull trend in both primary and secondary markets after the opening of SME IPO.
Radiowalla Network IPO subscription status
By 2:12 PM on day 3 of bidding, the public issue had received bids for 4,23,66,400 company shares against 18,75,200 shares offered by the company. This means the public issue worth ₹14.25 crore has been booked over 22 times. The retail portion of the book build issue has been subscribed over 58 times. The NII segment of the public issue has been filled 1.04 times while the QIB portion has been subscribed 100 percent.
The SME IPO has been offered for ₹72 to ₹76 per equity share. The book build issue raised ₹4 crore from anchor investors. The company logged more than 33.50 percent YoY increase in the revenue in FY23 whereas its PAT grew over 115 percent in this time.
Ashish Kacholia-owned company
As per the Red Herring Prospectus of Radiowalla Network IPO, Ashish Kacholia owns 5,48,405 company shares, which is 10.60 percent of the total paid-up capital of the company.
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Published: 01 Apr 2024, 02:50 PM IST
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