Radiowalla Network Ltd Share Price – NSE

Entertainment, Small Cap

Radiowalla Network announced that the 14th Annual General Meeting (AGM) of the company will be held on 25 September 2024.

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Radiowalla Network will hold a meeting of the Board of Directors of the Company on 26 August 2024.

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Radiowalla Network will hold a meeting of the Board of Directors of the Company on 28 May 2024

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The scrip was listed at Rs 120.15, a premium of 58.09% compared with the initial public offer (IPO) price. The stock is currently stuck at an upper limit of 5% over its listing price.

The counter hit a high of Rs 126.15 and a low of Rs 120.15. About 7.90 lakh shares of the company changed hands at the counter.

Radiowalla Network's IPO was subscribed 203 times. The issue opened for bidding on 27 March 2024 and it closed on 2 April 2024. The price band of the IPO was fixed at Rs 72 to 76 per share.

The IPO comprised fresh issue of 18,75,200 shares. The promoter and promoter shareholding diluted to 40.95% from 55.80% pre-IPO.

The company intends to utilise the net proceeds to invest in technology, capital expenditure, working capital requirement, general corporate purposes and for issue expenses.

Ahead of the IPO, Radiowalla Network on Thursday, 26 March 2024, raised Rs 40 crore from anchor investors. The board allotted 5.26 lakh shares at Rs 76 per share to 3 anchor investor.

Radiowalla Network is engaged in the business of customer engagement services which includes in-store radio services (exclusive radio channel for a brand) on subscription model basis, corporate radio (private radio channels for employee engagement in organisation) and advertisement services which includes digital signage solution, content management services and point of purchase advertising to clients. It exclusively caters to the business-to-business (B2B) sector. As on 31 October 2023, company has 54 permanent employees.

The company recorded revenue from operations of Rs 8.71 crore and net profit of Rs 1.13 crore for the period as on 31 October 2023.

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