Radiowalla Network Limited is into the business of customer engagement services which includes in-store radio services (exclusive radio channel for a brand) on subscription model basis, corporate radio. .Radiowalla IPO aims to raise Rs 14.25 crores. The issue is entirely a fresh issue of 18.75 lakh shares.
IPO opens
Mar 27, 2024
IPO Closes
Apr 02, 2024
IPO Size (Rs.)
₹14.25 Cr
IPO Size (shares)
1,875,200 shares
Breakup
Fresh issue only
Face Value:
₹ 10
IPO Price in Rs :
₹72 to ₹76 per share
Minimum Lot
1600 Shares
Listing At
NSE SME
QIB
~50 %
NII Quota
~15%
Retail Quota
~35%
Lead Manager
Narnolia Financial Services
Registrar
Maashitla Securities
Market maker
Ss Corporate Securities, Prabhat Financial Services
About Radiowalla Network Limited:
Company was incorporated in 2010.
Company is into 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 their clients.
They exclusively cater to the business-to-business (B2B) sector.
In the realm of In-Store Radio, they furnish audio services to diverse clients, including malls, retailers, and hospitals, addressing their background audio requirements. They offer background music services, which involve providing a selection of music to enhance the ambient atmosphere of various spaces. They deliver AI-driven playlists of continuously updated music.
In the domain of Corporate Radio, they extend audio services to corporate clients, encompassing both musical and non-musical components. The music facet comprises of a specified background music to enhance the ambient atmosphere of the office places of our clients. The non-musical facet comprises internal communications, announcements, birthday wishes, significant company news, and any other information that the company intends to convey to its employees. The background music services aim to create a pleasant and customized auditory experience tailored to the specific needs and preferences of clients and their respective environments.
Under Audio Advertising, they offer programmatic Advertising which is data-driven approach to buying and placing digital advertisements in real-time. Instead of the traditional manual process of ad buying, where human negotiations and manual insertion orders are involved, programmatic advertising relies on algorithms and technology to automate the buying of ad inventory. It allows for precise targeting, efficient use of advertising budgets, and the ability to reach the right audience at the right time.
Under Visual Advertising, they offer Digital out of Home Advertising (DOOH) and Static Branding Opportunities. Digital Out of Home Advertising (DOOH) represents a contemporary advertising approach wherein they deploy digital standees, video walls, LED displays, touch screen kiosks, and commercial-grade monitors for clients and overseeing the management of their content. This dynamic method ensures a modern and engaging visual experience for the audience.
In Static Branding Opportunities, they create a platform for brand visibility and engagement, implementing strategies that involve direct interaction with the target audience. These activities aim to enhance brand recognition and generate valuable leads for our clients.
The promoters of Company are Mr. Anil Srivatsa, Ms. Gurneet Kaur Bhatia and Mr. Harvinderjit Singh Bhatia.
Manpower : 54 people.
Financials: Radiowalla IPO
Particulars (₹ in Lacs.)
2023 (07)
2023 (12)
2022 (12)
2021 (12)
Revenue from operation
871.86
1397.97
1048.81
576.13
Profit after Tax
115.27
107.31
46.14
11.18
Share Capital
47.03
42.14
42.14
42.14
Net Worth
623.2
404.24
100.4
54.25
EPS Basic and Diluted
24.51
25.47
10.95
2.65
NAV
132.52
95.93
23.83
12.88
Total borrowings
– Long Term
9.08
11.73
15.99
19.75
– Short Term
42.97
67.01
53.65
63.29
Post issue Share Capital
704.8
FV
10.0
IPO price
76.0
EPS Fy23
1.5
PE Fy23
49.9
EPS Fy24 (annualized)
2.8
PE Fy24 (annualized)
27.1
Market cap in Lacs
5,356
Market cap / Sales
3.83
Anchors: Radiowalla IPO
Radiowalla IPO: Salient Points
Radiowalla is a trusted partner of the retail industry and collaborates with over 500+ retailers across 10 countries.
The vertical wise revenue Bifurcation of the company:
S. No.
Particulars
October 2023
F.Y. 2022-23
F.Y. 2022-21
F.Y. 2020-21
1.
Radio Engagement and subscription services
660.28
1,006.06
768.84
529.00
2.
Advertising Solutions
211.59
391.91
281.07
56.04
Total
871.86
1,397.97
1,049.91
585.05
The Net Proceeds are proposed to be utilized in the manner set forth below for the objectives of the IPO:
S. N.
Particulars
Amount(In Rs. Lakh)
1.
Investment in Technology
310.00
2.
Capital Expenditure
190.00
3.
Working Capital Requirement
450.00
4.
General Corporate Purposes
[●]
Radiowalla is a trusted partner of the retail industry and collaborates with over 500+ retailers across 10 countries.
The company has engaged with agencies and clients from Private Sector, Public Sec as shown above and also with Undertakings and Government sector. Some other prominent advertisers on their network include clients such as HUL, ITC, BIS, LIC etc.
Geographical wise Revenue Bifurcation
S. No.
State Name
October 2023
March 2023
March 2022
March 2021
Domestic Sales
1.
India
739.30
1,195.52
943.02
575.04
TOTAL (A)
739.30
1,195.52
943.02
575.04
International Sales
2.
Singapore
–
46.75
58.81
–
3.
MENA
107.61
155.69
45.77
–
4.
Mexico
24.96
–
–
–
5.
Sri Lanka
–
–
1.20
1.09
TOTAL (B)
132.57
202.45
105.78
1.09
GRAND TOATL (A+B)
871.86
1,397.97
1,048.81
576.13
Peers: None
They have presence across the country.
They have entered into strategic partnership agreement with Location Media Xchange Pte. Ltd., a company incorporated under the Laws of Singapore, a wholly owned subsidiary under the Moving Walls Group which is an independent advertising technology company for Integration of Audio Out of Home (“AOOH”) Programmatic Ad Serving, Audience Data Analytics and insights and Digital Out of Home (DOOH) Programmatic Advertising and Audience Measurement Insights across the network.
Experienced promoters with earlier experience of steering Radio Mirchi.
Renowned investors have invested in the company.
Radiowalla has also been listed as one of the top 10 in-store radio companies globally by “Venture Radar”.
I intend to apply in Radiowalla IPOsubject to availability of funds. The pricing appears to on the higher side though growth has been in excess of 50% in the past and prospects look to be good.
GMP as reported on social media has been Rs. 42/-
Shreni Shares Private Limited is the lead manager with quite a decent record of good listing and performance subsequently. Past issues handled by them include Gabriel Pet Straps Limited, DelaPlex Limited, Net Avenue Technologies Limited, Swashthik Plascon Limited, KK Shah Hospitals Limited, Marco Cables & Conductors Limited, Meson Valves India Limited, C P S Shapers Limited, AccelerateBS India Limited, Global Pet Industries Limited, Veefin Solutions Limited, Sancode Technologies Limited, Bright Outdoor Media Limited, Srivasavi Adhesive Tapes Limited, Arihant Academy Limited, PNGS Gargi Fashion Jewellery Limited, DAPS Advertising Limited, Olatech Solutions Limited etc.
SME IPO are much more risky and volatile than mainboard IPOs.
Standard disclaimer: I am not a SEBI registered analyst and above analysis is for educational purpose only. Iam a postgraduate in engineering & Management . I have in the past cleared some exams like NISM-Series-V-A: Mutual Fund Distributors Certification, NISM-Series-X-A: Investment Adviser (Level 1) Certification and NISM-Series-X-B: Investment Adviser (Level 2) Examination. This post is my view on the subject matter and is only academic and exploratory in nature. It is not meant to influence investment decisions of investors. I may have bias/vested interest in covered Stock/Mutual Funds/NCD etc. due to my own investment or leaning. Further my understanding of the areas on which I write may be imperfect or incomplete and data could be wrong due to limited time and resources at my disposal. Do check the data from company’s RHP and exchanges before making any decision. Please do your own due diligence as stock market/MF investments have high degree of inherent risk.
