The IPO is expected to raise Rs 388 crore. (Represent)
New Delhi:
Radiant Cash Management Services said today it has set a price of between Rs 94 and Rs 99 per share for its initial public offering of Rs 388.
The company said in a statement that the initial share sale will be open to public registration between December 23 and 27.
The IPO consists of a new share issue of up to Rs 60 crore and an offering (OFS) of 33,125,000 shares by promoter David Devasahayam and private equity firm Ascent Capital Advisors India.
In 2015, Ascent Capital acquired a 37.2% stake in the company.
Based on the upper band of the share price, the IPO is expected to raise Rs 388 crore.
The Chennai-based company said the proceeds from the new issuance component will be used to finance working capital requirements as well as capital expenditure requirements to purchase armored trucks. special fabrication.
Investors can bid for a minimum of 150 equity shares and then multiples of 150 equity shares.
IIFL Securities Limited, Motilal Oswal Investment Advisors Limited and Yes Securities (India) Limited are leading managers in this regard.
(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)
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