About the Company:
Radiowalla Network Ltd 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).
Company also provides advertisement services which includes digital signage solution, content management services and point of purchase advertising to our clients.
Company’s business operates under a Business-to-Business (B2B) model, which means company directly provides services to business.
Over the last few years, the company has brought in new innovative audio solutions for its clients and have expanded the base to other countries like UAE, Mexico, Sri Lanka and in Middle East as well.
Company is currently present in Five (5) countries based on the sales made for the Period ended Financial Years ended March 31, 2023.
Promoters Background:
Mr. Anil Srivatsa and Mr. Harvinderjit Singh Bhatia started Radiowalla in 2010 with a vision to bring innovative solutions for customer engagement via audio and digital formats.
They both had been in the corporate world for over 2 decades and had the experience of Indian and USA markets. Radiowalla acquired Decibel Media in 2013 and thereby expanded the business pan India.
Thereafter, Mr. Harpreet Singh, who is now the Chief Operating Officer of the company, joined the management team of and has been overseeing the Business operations of the company ever since.
Company’s Business Verticals:
- Radio Engagement Solutions and Subscription services.
- Advertisement Solutions.
Services Provided by the Company:
In-Store Radio Business:
- Company provides audio services to diverse clients, including malls, retailers, and hospitals, addressing their background audio requirements.
- Company offers background music services, which involve providing a selection of music to enhance the ambient atmosphere of various spaces. We deliver AI-driven playlists of continuously updated music.
Corporate Radio Business:
- In the domain of Corporate Radio, company extends 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 our clients and their respective environments.
Audio Advertising Business:
- Company offers 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.
Visual Advertising Business:
- Company offers Digital out of Home Advertising (DOOH) and Static Branding Opportunities. Digital Out of Home Advertising (DOOH) represents a contemporary advertising approach wherein we 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.
Static Branding Opportunities Business:
- Company created 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.
Vertical wise Revenue Breakup:
Company’s Clients:
- Tanishq Jewellery.
- Orra Jewellery
- Max Fashions
- Aditya Birla Fashion Retail
- Mc Donalds.
Company’s Geographical Presence in India:
Management Team:
- Mr. Harvinderjit Singh Bhatia (Designation: Chief Executive Officer, Chief Financial Officer and Director)
- Mr. Anil Srivatsa (Designation: Director)
Objectives of the Issue:
Fresh Issue: (Rs.14.06 cr)
- To meet out the expenses for Investment in Technology.
- To meet out the Capital Expenditure for the Company.
- To meet out the Working Capital requirements of the Company.
- To meet out the General Corporate Purposes.
- To meet out the Issue Expenses.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Investment in Technology | 3.10 cr |
| Capital Expenditure | 1.90 cr |
| Working Capital Requirement | 4.50 cr |
Company has finalized the agreement dated February 9th, 2024, for installation of LED screen at 18 bus stations operated by Gujarat State Road Transport Corporation (“GSRTC”).
The selected bus stations that fall in divisions like Ahmedabad, Baroda, Bharuch, Bhavnagar, Godhara, Jamnagar, Junagadh, Palanpur, Rajkot, Surat, Valsad etc., have contracted for a period of 5 years from 24th April 2024 till 23rd April 2029.
From IPO proceeds, company will utilise Rs. 100 Lakhs for installation of Active LED screens at such location.
Peer Group Comparison:
- Considering the nature and turnover of business of Radiowalla Network Ltd the peer are not strictly comparable.
Company’s Competitors (Unlisted):
- Adonta Media Private Limited
- Timbre Media Private Limited
- Alenka Media Private Limited
Positives for the Company:
Adapt and Experienced Management Team.
- Company has a team of experienced professionals who have substantially contributed to the growth of our business operations.
- Company’s Promoters Mr. Harvinderjit Bhatia has more than 30 years of experience in business management, finance and consulting. He served as a CFO at Netmagic Solutions, Digicable Network, and Radio Mirchi.
- The other Promoter, Mr. Anil Srivatsa has more than 30 years of experience in Radio and Digital Media. He previously served as the CEO of Kings XI Punjab, and as the COO of Radio Today Broadcasting.
Company has extensive global presence.
- The extensive global presence extends company’s reach and understanding of clients’ needs and cultural differences.
- Operating in diverse regions such as India, UAE, Mexico, Singapore, Sri Lanka, etc. Company has cultivated insights into clients’ diverse requirements and local cultures. This unique position enables us to customize services to precisely align with clients’ distinct needs.
Company provides Multi- Lingual Content.
- Company’s ability to provide services in multiple languages, including English, Hindi, Tamil, Kannada, Telugu, Gujarati, Marathi, Bengali, Punjabi, Arabic, and others as needed, strengthens our capacity to connect clients not only within specific regions but also across geographical borders.
Empanelment with Directorate of Advertising and Visual Publicity (DAVP) which has now integrated into Central Bureau of Communication (CBC).
- Company has empanelled ourselves with Directorate of Advertising and Visual Publicity (“DAVP”) which has now integrated into Central Bureau of Communication (“CBC”), which provides 360 degrees communication solutions to the Ministries/Departments/ Public Sector Undertakings (PSUs)/autonomous bodies.
- This allows company to pitch government departments. This empanelment has granted company the privilege of participating in government department projects.
- Notable government clients, company has recently worked with or are currently working with include the Bureau of Indian Standards (BIS), the Government of Punjab, and the National Book Trust.
Established client base and partnerships with major retailers.
- Company’s strength lies in well-established client base and strategic partnerships with major retailers. Over the years, company has cultivated strong relationships with a diverse range of clients, earning their trust and loyalty.
- These partnerships extend to prominent retail chains, reinforcing company’s position as a preferred provider of in-store radio and advertising solutions.
Financials of the Company:
| (in Crores) | FY 21 | FY 22 | FY 23 | Upto 31st Oct 23 |
|---|---|---|---|---|
| Revenue | 5.89 | 10.50 | 14.02 | 8.71 |
| Net Profit | 0.10 | 0.47 | 1.02 | 1.13 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 27th March 2024 |
| Issue Closes on | 2nd April 2024 |
| Issue Price | Rs.72 -76 |
| Face Value | Rs.10 |
| Minimum Lot | 1600 Shares |
| Minimum Investment | Rs.1,21,600 |
| Issue Constitutes | 26.60 % |
| Issue Size | Rs.14.06 cr |
| Market Cap | Rs. 53.5 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 18,75,200 (Rs.14.06 cr) |
| Equity Shares Prior to the Issue | 51,73,036 |
| Equity Shares after the Issue | 70,48,236 |
Also Read : List of Upcoming IPO’s in India.
Also Read: List of Upcoming SME IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | on or Before 3rd April 2024 |
| Initiation of Refunds | on or Before 4th April 2024 |
| Credit of Equity Shares: | on or Before 4th April 2024 |
| Listing Date: | on or Before 5th April 2024 |
| Should You Subscribe or Not ? |
|---|
|
Investors across the spectrum should consider subscribing to Radiowalla Networks IPO as the company operates in a unique niche, providing services tailored to both retail and corporate sectors. With its specialized offerings and potential for growth in untapped markets, this IPO presents a compelling investment opportunity that should not be overlooked. Radiowalla’s innovative approach to radio content delivery coupled with its established presence in the industry makes it a must-apply for those seeking to diversify their portfolio and capitalize on emerging trends in media and communications. |
| Company Contact Info: |
|---|
| Radiowalla Network Ltd 16A, Basement Floor, Maratha Bhavan, Millers Tank Bund Road, Vasanthnagar, Bangalore-560052 Tel.: +91 8044999917 E-mail: compliance@radiowalla.in Website: www.radiowalla.in |
| Registrar to the Issue: |
|---|
| MAASHITLA SECURITIES PRIVATE LIMITED Address: 451, Krishna Apra Business Square, Netaji Subhash Place, Pitampura, Delhi – 110034, India Telephone: 011-45121795 Email: ipo@maashitla.com Website: www.maashitla.com |
| Lead Manager to the Issue: |
|---|
| NARNOLIA FINANCIAL SERVICES LIMITED Address: 201, 2nd Floor, Marble Arch, 236 B A.J.C Bose Road, Kolkata, West Bengal- 700020, India Telephone: +91- 8130678743 Email: pankaj.passi@narnolia.com Website: www.narnolia.com |
