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Radiant Cash Management IPO: The IPO of Radiant Cash Management Services, a giant in the retail cash management sector, is going to open this week. The IPO will open for subscription on December 23 and investors will be able to apply till December 27.
Radiant Cash Management Services has fixed the price band of the IPO at Rs 94 to Rs 99 per share. Investors can apply for a minimum of 150 shares and thereafter apply in multiples thereof. In this IPO, 60 crore fresh issue and 3.31 shares under offer for sale will be offloaded by the promoters and investors of the company.
The funding requirements of working capital will be met from the amount raised through the fresh issue in the IPO. Apart from this, money will be spent on buying special vans and meeting general corporate needs.
Radiant Cash Management Services was established in 2005 which provides retail cash management services to banks, financial institutions, organized retail and e-commerce companies. The company does the work of cash collection to delivery for its clients.
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If we look at the financial results of the company, the revenue of the company in 2021-22 was Rs 286.97 crore, on which there was a profit of Rs 38.21 crore. At the same time, in the first financial year 2020-21, there was a revenue of Rs 224.16 crore, on which there was a profit of Rs 32.43 crore.
In the IPO, 50 per cent quota has been reserved for institutional investors, 15 per cent for non-institutional investors and 35 per cent for retail investors.
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