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Radiant Cash Management IPO will open this week. Date, other important details here


Radiant Cash Management Services Ltd’s three-day initial public offering (IPO) will be open to the public for registration this week on Friday, December 23, 2022 through Tuesday, December 23, 2022. December 27, 2022. The public offering will include a new issue of shares worth $60 crore and an offer to sell (OFS) 3.31 crore of shares by promoters and investors.

Public issue is valued $94 to $99 per share, according to Chittorgarh. Proceeds from the new issuance will be used to finance working capital requirements, capital expenditure requirements for the purchase of specially built armored trucks and general corporate purposes.

Established in 2005, Radiant Cash Management Services Limited is a market leader in retail cash management services for banks, financial institutions and organized retail and e-commerce companies. office in India. The company offers a wide range of services in this segment including the collection and delivery of cash on behalf of its customers from end users.

Some of its key clients include Axis Bank, Citibank, Deutsche Bank Limited, HDFC Bank Limited, ICICI Bank, Kotak Mahindra Bank, State Bank of India, Yes Bank.

Company promoter David Devasahayam will sell 1.01 crore shares, while Ascent Capital Advisors India will reduce 2.3 crore shares by OFS.

IIFL Securities, Motilal Oswal Investment Advisors, and YES Securities are the books that lead managers to an initial share sale. Link Intime India Private Ltd is the registrar for IPO. The company’s shares are proposed to list on the leading stock exchanges BSE and NSE on January 4, 2023.


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