Bookbuilding IPO | ₹257 Cr | Listed at BSE, NSE | Fri, Dec 23, 2022 - Tue, Dec 27, 2022
Radiant Cash Management IPO is a book build issue of ₹256.64 crores. The issue is a combination of fresh issue of 0.55 crore shares aggregating to ₹52.47 crores and offer for sale of 2.12 crore shares aggregating to ₹204.17 crores.
Radiant Cash Management IPO bidding started from Dec 23, 2022 and ended on Dec 27, 2022. The allotment for Radiant Cash Management IPO was finalized on Dec 30, 2022. The shares got listed on BSE, NSE on Jan 4, 2023.
Radiant Cash Management IPO price band is set at ₹94 per share. The lot size for an application is 150. The minimum amount of investment required by an retail is ₹14,850 (150 shares) (based on upper price). The lot size investment for sNII is 15 lots (2,250 shares), amounting to ₹2,11,500, and for bNII, it is 71 lots (10,650 shares), amounting to ₹10,01,100.
IIFL Capital Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Radiant Cash Management IPO RHP for detailed Information.
IPO Open
Fri, Dec 23, 2022
IPO Close
Tue, Dec 27, 2022
Issue Price
₹94 per share
Market Cap (Pre-IPO)
₹1,062.41 Cr
| IPO Date | 23 to 27 Dec, 2022 |
| Listed on | Wed, Jan 4, 2023 |
| Face Value | ₹1 per share |
| Price Band | ₹94 to ₹99 |
| Issue Price | ₹94 per share |
| Lot Size | 150 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,66,76,977 shares (agg. up to ₹257 Cr) |
| Fresh Issue | 54,54,546 shares (agg. up to ₹52 Cr) |
| Offer for Sale | 2,12,22,431 shares of ₹1 (agg. up to ₹204 Cr) |
| Share Holding Pre Issue | 10,12,53,360 shares |
| Share Holding Post Issue | 10,67,07,906 shares |
| BSE Script Code / NSE Symbol | 543732 / RADIANTCMS |
| ISIN | INE855R01021 |
Radiant Cash Management IPO offers total 2,66,76,977 shares. Out of which 1,33,38,488 (50.00%) allocated to QIB, 15,82,807 (5.93%) allocated to QIB (Ex- Anchor), 40,01,547 (15.00%) allocated to NII 93,36,942 (35.00%) allocated to RII and 1,17,55,681 (44.07%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,33,38,488 (50.00%) | NA |
| − Anchor Investor Shares Offered | 1,17,55,681 (44.07%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 15,82,807 (5.93%) | NA |
| NII (HNI) Shares Offered | 40,01,547 (15.00%) | NA |
| − bNII > ₹10L | 26,67,698 (10.00%) | 1,270 |
| − sNII < ₹10L | 13,33,849 (5.00%) | 635 |
| Retail Shares Offered | 93,36,942 (35.00%) | 62,246 |
| Total Shares Offered | 2,66,76,977 (100.00%) |
Investors can bid for a minimum of 150 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹14,100 |
| Retail (Max) | 14 | 2,100 | ₹1,97,400 |
| S-HNI (Min) | 15 | 2,250 | ₹2,11,500 |
| S-HNI (Max) | 70 | 10,500 | ₹9,87,000 |
| B-HNI (Min) | 71 | 10,650 | ₹10,01,100 |
Radiant Cash Management IPO raises ₹116.38 crore from anchor investors. Radiant Cash Management IPO Anchor bid date is December 22, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Dec 22, 2022 |
| Shares Offered | 1,17,55,681 |
| Anchor Portion (₹ Cr.) | 116.38 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Jan 29, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Mar 30, 2023 |
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 | 30 Jun 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|---|
| Assets | 203.95 | 190.57 | 162.14 | 157.62 | 141.44 |
| Total Income | 84.38 | 286.97 | 224.16 | 251.78 | 223.13 |
| Profit After Tax | 15.32 | 38.21 | 32.43 | 36.50 | 25.02 |
| NET Worth | 155.19 | 139.76 | 127.10 | 119.57 | 105.72 |
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Borrowing | 25.54 | 26.75 | 11.05 | 21.13 | 17.73 |
| Amount in ₹ Crore | |||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding working capital requirements; | 20.00 |
| 2 | Funding of capital expenditure requirements for purchase of specially fabricated armoured vans; and | 25.48 |
| 3 | General corporate purposes. | 3.77 |
| KPI | |
|---|---|
| ROE | 27.34 |
| ROCE | 33.07 |
| Debt/Equity | 0.21 |
| RoNW | 27.34 |
| PAT Margin | 13.31% |
| EBITDA Margin | 20.73% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.77 | |
| P/E (x) | 17.34 | |
| Promoter Holding | 66.39% | 53.21% |
| Market Cap | ₹1,062.41 Cr. |
The Radiant Cash Management IPO is subscribed 0.53 times on December 27, 2022 7:52:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.01 | 78,37,121 | 79,34,550 |
| NII | 0.66 | 58,77,841 | 38,77,200 |
| bNII (bids above ₹10L) | 0.94 | 39,18,560 | 36,98,850 |
| sNII (bids below ₹10L) | 0.09 | 19,59,281 | 1,78,350 |
| Retail | 0.21 | 1,37,14,963 | 28,15,950 |
| Total | 0.53 | 2,74,29,925 | 1,46,27,700 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs | 0.75 |
| 2 | Advertising and marketing expenses | 0.25 |
| 3 | Fees payable to the Registrar to the Offer including printing of post offer stationery | 0.00 |
| 4 | Brokerage and selling commission, processing fees payable to Sponsor Banks, SCSBs, Registered Brokers, RTAs and CDPs, as applicable(1)(2)(3)(4) | 0.16 |
| 5 | Printing and distribution of issue stationery | 0.16 |
| 6 | Fees to regulators, including stock exchanges | 0.20 |
| 7 | Fees payable to legal counsel | 0.22 |
| 8 | Others | |
| 9 | Industry expert | 0.04 |
| 10 | Auditors; and | 0.17 |
| 11 | Miscellaneous. | 0.29 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹94.00 | ₹94.00 |
| Open | ₹99.30 | ₹103.00 |
| Low | ₹98.00 | ₹98.10 |
| High | ₹116.70 | ₹116.80 |
| Last Trade | ₹104.70 | ₹104.90 |
Radiant Cash Management IPO is a main-board IPO of 2,66,76,977 equity shares of the face value of ₹1 aggregating up to ₹257 Crores. The issue is priced at ₹94 per share. The minimum order quantity is 150.
The IPO opens on Fri, Dec 23, 2022, and closes on Tue, Dec 27, 2022.
MUFG Intime India Pvt.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 Fri, Dec 23, 2022 and closes on Tue, Dec 27, 2022.
Radiant Cash Management IPO lot size is 150, and the minimum amount required for application is ₹14,100.
You can apply in Radiant Cash Management IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Tue, Jan 3, 2023. Check the Radiant Cash Management IPO allotment status.
The Radiant Cash Management IPO listing date is on Wed, Jan 4, 2023.
