- Date : 22/12/2022
- Read: 2 mins
Radiant Cash Management Services IPO will launch on Dec 23, 2022.
Radiant Cash Management Services IPO will comprise 3.31 crore shares for an offer for sale and Rs. 60 crore fresh share issues. The company will launch its IPO on Dec 23, 2022, and Radiant Cash Management Services will announce its offer's price band on Dec 20, 2022. The issue will close on Dec 27, 2022, and the anchor book investors can participate on Dec 22, 2022, for a day.
Dates
Listing Date: Jan 4, 2023
Basis of Allotment: Dec 30, 2022
Opening Date: Dec 23, 2022
Closing Date: Dec 27, 2022
Credit of Shares to Demat: Jan 3, 2023
Initiation of Refunds: Jan 2, 2023
Read: How is an IPO price decided?
Structure of the IPO
The initial public offering (IPO) will have 3.31 crore shares for an offer for sale and Rs. 60 crores fresh issuance of shares by one investor and the promoter. David Devasahayam, Promoter, plans to sell 1.01 cr shares, and Ascent Capital Advisors India, an Investor, plans to sell 2.3 cr shares by an offer for sale. Ascent Capital Advisors India is the company's second-largest shareholder, holding a 33.61% stake. David Devasahayam holds 58% shares.
Where will the money go?
The company is into retail cash management and will use the proceeds from the fresh issue for general corporate purposes, buying special armored vans, and working capital requirements. Radiant Cash Management Services serves a broad market for outsourcing requirements of cash management services for e-commerce companies, organized retail, financial institutions, and banks in India. Radiant Cash Management Services claims it is among India's most prominent retail cash management players in touch points or network locations as of March this year. Radiant Cash Management Services reported an 18% profit growth at Rs. 38.2 crores for the year ending March 2022. Its revenue grew to Rs. 286 crores in a year by 29%. Motilal Oswal Investment Advisors, Yes Securities, and IIFL Securities will be the issue's merchant bankers, and Link Intime India will be the registrar.
Read: All you need to know about Yatra IPO.
Radiant Cash Management Services IPO will be the sixth IPO launch this month (December). Other IPOs launching in December are Elin Electronics, KFin Technologies, Landmark Cars, Sula Vineyards, and Abans Holdings.
Radiant Cash Management Services IPO Review
Radiant Cash Management Services IPO will comprise 3.31 crore shares for an offer for sale and Rs. 60 crore fresh share issues. The company will launch its IPO on Dec 23, 2022, and Radiant Cash Management Services will announce its offer's price band on Dec 20, 2022. The issue will close on Dec 27, 2022, and the anchor book investors can participate on Dec 22, 2022, for a day.
Dates
Listing Date: Jan 4, 2023
Basis of Allotment: Dec 30, 2022
Opening Date: Dec 23, 2022
Closing Date: Dec 27, 2022
Credit of Shares to Demat: Jan 3, 2023
Initiation of Refunds: Jan 2, 2023
Read: How is an IPO price decided?
Structure of the IPO
The initial public offering (IPO) will have 3.31 crore shares for an offer for sale and Rs. 60 crores fresh issuance of shares by one investor and the promoter. David Devasahayam, Promoter, plans to sell 1.01 cr shares, and Ascent Capital Advisors India, an Investor, plans to sell 2.3 cr shares by an offer for sale. Ascent Capital Advisors India is the company's second-largest shareholder, holding a 33.61% stake. David Devasahayam holds 58% shares.
Where will the money go?
The company is into retail cash management and will use the proceeds from the fresh issue for general corporate purposes, buying special armored vans, and working capital requirements. Radiant Cash Management Services serves a broad market for outsourcing requirements of cash management services for e-commerce companies, organized retail, financial institutions, and banks in India. Radiant Cash Management Services claims it is among India's most prominent retail cash management players in touch points or network locations as of March this year. Radiant Cash Management Services reported an 18% profit growth at Rs. 38.2 crores for the year ending March 2022. Its revenue grew to Rs. 286 crores in a year by 29%. Motilal Oswal Investment Advisors, Yes Securities, and IIFL Securities will be the issue's merchant bankers, and Link Intime India will be the registrar.
Read: All you need to know about Yatra IPO.
Radiant Cash Management Services IPO will be the sixth IPO launch this month (December). Other IPOs launching in December are Elin Electronics, KFin Technologies, Landmark Cars, Sula Vineyards, and Abans Holdings.
