Radiant Cash Management Services IPO to open on Dec 23, 2022; Price Band of ₹94 – ₹99 per equity share.

• Price Band of  ₹94 – ₹99 per equity share bearing face value of  ₹1 each (“Equity Shares”)
• 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.

Chennai, 21/12/2022: Radiant Cash Management Services Limited is an integrated cash logistics player with leading presence in retail cash management (“RCM”) 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 (Source: Company Commissioned F&S Report) has fixed the price band at ₹94 to ₹99 per Equity Share for proposed initial public offer. 

Press meet video👇👇

The initial public offering (“IPO” or “Offer”) of the Company will open on December 23, 2022 for subscription and closes on December 27, 2022. Investors can bid for a minimum of 150 Equity Shares and in multiples of 150 Equity Shares thereafter. 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 (OFS) up to 33,125,000 equity shares by existing shareholders.

(L to R) Cyrus F.Shroff, Head-Business Development, Radiant; Dr.David Devasahayam, Chairman and Managing Director, Radiant; N.Muthuraman, Director- Strategy & Investor Relations, Radiant; Vishal Bangard, Vice President, IIFL

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 of our services 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. (Source: Company Commissioned F&S Report)

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