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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 ₹94.00 per share . The lot size for an application is 150. The minimum amount of investment required by an retail is ₹14,100 (150 shares). 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 Date | December 23, 2022 to December 27, 2022 |
| Listing Date | January 4, 2023 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹94 to ₹99 per share |
| Issue Price Final | ₹94 per share |
| Lot Size | 150 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 2,66,76,977 shares (aggregating up to ₹256.64 Cr) |
| Fresh Issue | 54,54,546 shares (aggregating up to ₹52.47 Cr) |
| Offer for Sale | 2,12,22,431 shares of ₹1 (aggregating up to ₹204.17 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 10,12,53,360 shares |
| Share Holding Post Issue | 10,67,07,906 shares |
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, 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 | Maximum 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%) |
Radiant Cash Management IPO raises ₹116.38 crore from anchor investors. Radiant Cash Management IPO Anchor bid date is December 22, 2022. Radiant Cash Management IPO Anchor Investors list
| Bid Date | December 22, 2022 |
| Shares Offered | 1,17,55,681 |
| Anchor Portion Size (In Cr.) | 116.38 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 29, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 30, 2023 |
Radiant Cash Management IPO opens on December 23, 2022, and closes on December 27, 2022.
| IPO Open Date | Fri, Dec 23, 2022 |
| IPO Close Date | Tue, Dec 27, 2022 |
| Tentative Allotment | Fri, Dec 30, 2022 |
| Initiation of Refunds | Mon, Jan 2, 2023 |
| Credit of Shares to Demat | Tue, Jan 3, 2023 |
| Tentative Listing Date | Wed, Jan 4, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Dec 27, 2022 |
Investors can bid for a minimum of 150 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 ₹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...
| Listing Date | January 4, 2023 |
| BSE Script Code | 543732 |
| NSE Symbol | RADIANTCMS |
| ISIN | INE855R01021 |
| Final Issue Price | ₹94 per share |
| BSE Listing Group | B |
Radiant Cash Management Services Ltd.
28,
Vijayaraghava Road,
T. Nagar
Chennai, Tamil Nadu, 600017
Phone: +91 044 4904 4904
Email: jayabharathi@radiantcashlogistics.com
Website: https://radiantcashservices.com/
MUFG Intime India Pvt.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 2,66,76,977 equity shares of the face value of ₹1 aggregating up to ₹256.64 Crores. The issue is priced at ₹94 per share. The minimum order quantity is 150.
The IPO opens on December 23, 2022, and closes on December 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 December 23, 2022 and closes on December 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 Tuesday, January 3, 2023. Check the Radiant Cash Management IPO allotment status.
The Radiant Cash Management IPO listing date is on Wednesday, January 4, 2023.
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