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Radiant Cash Management IPO is a book built issue of Rs 256.64 crores. The issue is a combination of fresh issue of 0.55 crore shares aggregating to Rs 54.00 crores and offer for sale of 2.12 crore shares aggregating to Rs 202.64 crores.
Radiant Cash Management IPO bidding started from December 23, 2022 and ended on December 27, 2022. The allotment for Radiant Cash Management IPO was finalized on Friday, December 30, 2022. The shares got listed on BSE, NSE on January 4, 2023.
Radiant Cash Management IPO price band is set at ₹94 to ₹99 per share. The minimum lot size for an application is 150 Shares. The minimum amount of investment required by retail investors is ₹14,850. The minimum lot size investment for sNII is 14 lots (2,100 shares), amounting to ₹207,900, and for bNII, it is 68 lots (10,200 shares), amounting to ₹1,009,800.
Iifl Securities Ltd, Motilal Oswal Investment Advisors Limited and Yes Securities (India) Limited are the book running lead managers of the Radiant Cash Management IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Radiant Cash Management IPO RHP for detailed information.
| IPO Date | December 23, 2022 to December 27, 2022 |
| Listing Date | January 4, 2023 |
| Face Value | ₹1 per share |
| Price Band | ₹94 to ₹99 per share |
| Lot Size | 150 Shares |
| Total Issue Size | 26,676,977 shares (aggregating up to ₹256.64 Cr) |
| Fresh Issue | 5,454,546 shares (aggregating up to ₹54.00 Cr) |
| Offer for Sale | 21,222,431 shares of ₹1 (aggregating up to ₹202.64 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 101,253,360 |
| Share holding post issue | 106,707,906 |
Radiant Cash Management IPO offers 27,429,925 shares. 7,837,121 (28.57%) to QIB, 5,877,841 (21.43%) to NII, 13,714,963 (50.00%) to RII. 91,433 RIIs will receive minimum 150 shares and 932 (sNII) and 1,865 (bNII) will receive minimum 2,100 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 7,837,121 (28.57%) | NA |
| NII (HNI) Shares Offered | 5,877,841 (21.43%) | |
| bNII > ₹10L | 3,918,560 (14.29%) | 1,865 |
| sNII < ₹10L | 1,959,281 (7.14%) | 932 |
| Retail Shares Offered | 13,714,963 (50.00%) | 91,433 |
| Total Shares Offered | 27,429,925 (100%) |
Radiant Cash Management IPO opens on December 23, 2022, and closes on December 27, 2022.
| IPO Open Date | Friday, December 23, 2022 |
| IPO Close Date | Tuesday, December 27, 2022 |
| Basis of Allotment | Friday, December 30, 2022 |
| Initiation of Refunds | Monday, January 2, 2023 |
| Credit of Shares to Demat | Tuesday, January 3, 2023 |
| Listing Date | Wednesday, January 4, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 27, 2022 |
Investors can bid for a minimum of 150 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹14,850 |
| Retail (Max) | 13 | 1950 | ₹193,050 |
| S-HNI (Min) | 14 | 2,100 | ₹207,900 |
| S-HNI (Max) | 67 | 10,050 | ₹994,950 |
| B-HNI (Min) | 68 | 10,200 | ₹1,009,800 |
| Lot Size Calculator | |||
Col. David Devasahayam and Dr Renuka David are the company promoters.
| Share Holding Pre Issue | 66.39% |
| Share Holding Post Issue | 53.21% |
Incorporated in 2005, Radiant Cash Management Services Limited is the market leader in retail cash management services for banks, financial institutions, and organized retail and e-commerce companies in India. The company offers a range of services under this segment consisting of collection and delivery of cash on behalf of our clients from the end user.
The company's management is supported by a qualified and motivated pool of about 2,012 employees (as of July 31, 2022).
The main objects of the Company are:
The company is one of the largest players in the RCM segment in terms of network locations or touch points served as of March 31, 2022.
Radiant Cash Management Services provide services across 13,044 pin codes in India covering all districts (other than Lakshadweep) with about 55,513 touchpoints serving more than 5,388 locations as of July 31, 2022.
The company's key clients are Axis Bank Limited, Citibank, Deutsche Bank Limited, HDFC Bank Limited, ICICI Bank Limited, Kotak Mahindra Bank, Standard Chartered Bank, State Bank of India, The Hongkong and Shanghai Banking Corporation Limited and Yes Bank Limited.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-19 | 141.44 | 223.13 | 25.02 | 105.72 | 17.73 |
| 31-Mar-20 | 157.62 | 251.78 | 36.5 | 119.57 | 21.13 |
| 31-Mar-21 | 162.14 | 224.16 | 32.43 | 127.1 | 11.05 |
| 31-Mar-22 | 190.57 | 286.97 | 38.21 | 139.76 | 26.75 |
| 30-Jun-22 | 203.95 | 84.38 | 15.32 | 155.19 | 25.54 |
| Amount in ₹ Crore | |||||
The market capitalization of Radiant Cash Management IPO is Rs 1062.41 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 17.34 |
The net proceeds of the Fresh Issue:
1. Funding working capital requirements.
2. Funding of capital expenditure requirements for the purchase of specially fabricated armoured vans.
3. General corporate purposes.
[Dilip Davda] The company enjoys a niche place in RCM Segment with a lion’s share. It sees vast opportunities in Tier-II and Tier-III cities with retailing businesses. The management is hopeful of maintaining the trends going forward as it is giving specialized cash logistics services. After demonetization, cash in circulation has increased on the pre-covid levels. Investors may park funds with a long-term perspective. Read detail review...
The Radiant Cash Management IPO is subscribed 0.53 times on December 27, 2022 7:52:00 PM. The public issue subscribed 0.21 times in the retail category, 1.01 times in the QIB category, and 0.66 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 1.01 |
| NII | 0.66 |
| bNII (bids above ₹10L) | 0.94 |
| sNII (bids below ₹10L) | 0.09 |
| Retail | 0.21 |
| Total | 0.53 |
| Listing Date | January 4, 2023 |
| BSE Script Code | 543732 |
| NSE Symbol | RADIANTCMS |
| ISIN | INE855R01021 |
| Final Issue Price | ₹94 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹94.00 |
| ₹99.30 |
| ₹98.00 |
| ₹116.70 |
| ₹104.70 |
| NSE |
|---|
| ₹94.00 |
| ₹103.00 |
| ₹98.10 |
| ₹116.80 |
| ₹104.90 |
Radiant Cash Management Services Limited
28, Vijayaraghava Road,
T. Nagar, Chennai 600 017,
Tamil Nadu, India
Phone: +91 044 4904 4904
Email: jayabharathi@radiantcashlogistics.com
Website: https://radiantcashservices.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: radiant.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Radiant Cash Management IPO is a main-board IPO of 26,676,977 equity shares of the face value of ₹1 aggregating up to ₹256.64 Crores. The issue is priced at ₹94 to ₹99 per share. The minimum order quantity is 150 Shares.
The IPO opens on December 23, 2022, and closes on December 27, 2022.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Radiant Cash Management IPO using UPI as a payment gateway. Zerodha customers can apply in Radiant Cash Management IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Radiant Cash Management IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Radiant Cash Management IPO opens on December 23, 2022 and closes on December 27, 2022.
Radiant Cash Management IPO lot size is 150 Shares, and the minimum amount required is ₹14,850.
You can apply in Radiant Cash Management IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Radiant Cash Management IPO will be done on Friday, December 30, 2022, and the allotted shares will be credited to your demat account by Tuesday, January 3, 2023. Check the Radiant Cash Management IPO allotment status.
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