PNN
Pune (Maharashtra) [India], March 22: Radiowalla Network Limited, one of the leading providers of B2B customer engagement services, has announced its plan to go public with an Initial Public Offering on March 27, 2024. The company is aiming to raise Rs 14.25 Crore on upper price band through this IPO, with shares set to be listed on the NSE Emerge platform.
The issue size is Up to 18,75,200 equity shares at face value of Rs 10 each.
Equity Share Allocation
* QIB Anchor Portion – Up To 5,26,400 Equity Shares
* Qualified Institutional Buyers (QIB) – Up To 3,53,600 Equity Shares
* Non-Institutional Investors (NII) – Up To 2,65,600 Equity Shares
* Retail Individual Investors (RII) – Up To 6,17,600 Equity Shares
* Market Maker – Up To 1,12,000 Equity Shares
The net proceeds from the IPO will be utilized for meeting the expenses for investment in technology, capital expenditure, working capital requirements of the company, and general corporate expenses. The bidding for the Anchor portion will open on March 26, 2024, and the issue will close on April 02, 2024.
The Book Running Lead Manager to the Issue is Narnolia Financial Services Limited. The Registrar to the Issue is Maashitla Securities Private Limited.
As on RHP date shareholding, Marquee Investor Ashish Kacholia holds 10.60% equity in the company.
Harvinderjit Singh Bhatia, Co-founder & CEO said, “Going public with an Initial Public Offering is a significant milestone for us. It marks a pivotal moment in our company’s journey, showcasing our commitment to growth and expansion. Radiowalla is known for its innovative B2B customer engagement services. Our commitment to delivering cutting-edge solutions tailored to the evolving needs of businesses has been a cornerstone of our success. We are excited about the opportunities this IPO will unlock, particularly in terms of technology investment, capital expenditure, and enhancing our operational capabilities. This move underscores our confidence in Radiowalla’s potential to further establish itself as a leader in B2B customer engagement services.”
Vipin Aggarwal, Director (Investment Banking) of Narnolia Financial Services Limited said, “We are pleased to be part of this pivotal moment in the company’s journey. Radiowalla’s diverse portfolio of B2B customer engagement services, ranging from in-store radio to digital advertising solutions, positions it as a trailblazer in the industry. Operating across multiple countries, Radiowalla serves diverse markets with a focus on delivering impactful communication strategies and driving customer engagement in the B2B sector. The IPO presents an exciting opportunity for Radiowalla to access capital markets and fuel its growth trajectory. We are confident that Radiowalla’s continued innovation and strategic vision will pave the way for enduring success in the B2B customer engagement sector.”
(ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
