IPO Corner: Radiant Cash Management Services Ltd.

Radiant Cash Management Services Ltd
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Radiant Cash Management Services Limited’s Initial Public Offering will open on Friday, December 23, 2022, with price band at ₹94 to ₹99 per Equity Share bearing face value of ₹1 each. Bid/Offer Opening Date – Friday, December 23, 2022 and Bid/Offer Closing Date – Tuesday, December 27, 2022. Minimum Bid Lot is 150 Equity Shares and in multiples of 150 Equity Shares thereafter.

The Floor Price is 94 times the face value of the Equity Share and the Cap Price is 99 times the face value of the Equity Share.

  • Issue Opens on: Friday, December 23, 2022
  • Issue Closes on: Tuesday, December 27, 2022
  • Price Band: ₹94 to ₹99 per Equity Share
  • Face Value: Rs 1 per equity share
  • Minimum Bid: 150 Equity Shares and in multiples

Risks to Investors:

The 3 BRLMs associated with the Offer have handled 40 public issues in the past three years, out of which 14 issues closed below the offer price on the listing date.

Radiant Cash Management Services Limited is an integrated cash logistics player with leading presence in retail cash management segment of the cash management services industry in India and are one of the largest players in the RCM segment in terms of network locations or touch points served as of March 31, 2022. The public issue with a face value of Re 1 per equity share comprising a fresh issue of up to Rs 600 million and an offer for sale up to 33,125,000 equity shares by existing shareholders.

Radiant provide services across 13,044 pin codes in India covering all districts (other than Lakshadweep) with about 55,513 touch points serving more than 5,388 locations as of July 31, 2022. Its marquee clients include some of the largest foreign, private and public sector banks, and the end user include some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, ecommerce logistics players, railways and retail petroleum distribution outlets. In Fiscal 2021, it had the second highest EBITDA margin, ROCE and ROE amongst organised players in the cash management services segment.

About the author: IE&M Team
IE&M Team
Indian Economy & Market is an Indian media and information platform producing data-backed news and analysis on all the vital elements at the intersection of the economy, stock markets, mutual fund, insurance, commodities, currency, technology, startups and business.

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