Radiant Cash Management IPO price band: Radiant Cash Management IPO to open on Dec 23; price band fixed

Radiant Cash Management Services is the market leader in retail cash management services for banks, financial institutions, and organized retail and e-commerce companies in India.

The issue consists of fresh equity shares of Rs 60 crore and an offer for sale (OFS) of 3.31 crore equity shares by the promoters and existing shareholders of the company.

Promoter Col. David Devasahayam will be selling 1.01 crore shares and investor Ascent Capital Advisors India will offload 2.3 crore shares via the OFS route.

The issue can be subscribed till Tuesday, December 27. Investors can make a bid of 150 equity shares and in multiples thereof. The anchor book will open on Thursday, December 22.

The net proceeds from the issue will be utilised towards funding working capital and capital expenditure requirements for the purchase of specially fabricated armoured vans, other than general corporate purposes.

The company reported a net profit of Rs 38.21 crore with total revenue of Rs 286.97 crore for the year ended March 31, 2022. Its profit stood at Rs 32.43 crore with total revenue of Rs 224.16 crore at the end of the previous year.
The cash management company clocked a bottomline of Rs 15.32 crore with total revenue of Rs 84.38 crore for the period ended on June 30, 2022.

50% of shares are reserved for qualified institutional buyers (QIBs), whereas 15% of shares are reserved for non-institutional investors (NIIs). The remaining 35% of shares will be allotted to retail investors.

, Investment Advisors and are the book-running lead managers of the issue, whereas Link Intime India has been appointed as registrar to the issue.

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