Radiant Cash Management IPO to open this week. Dates, other key details here
The initial public offering (IPO) of Radiant Cash Management Services Ltd will open for public subscription this week on Friday, December 23, 2022 till Tuesday, December 27, 2022. The public issue comprises a fresh issuance of shares worth ₹60 crore and an offer for sale (OFS) of 3.31 crore shares by promoters and investors.
The public issue is priced at ₹94 to ₹99 per share, as per Chittorgarh. The net proceeds of the fresh issue will be used for funding working capital requirements, capital expenditure requirements for the purchase of specially fabricated armoured vans and general corporate purposes.
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.
IIFL Securities, Motilal Oswal Investment Advisors, and YES Securities are the book running lead managers to the initial share sale. Link Intime India Private Ltd is the registrar for the IPO. The shares of the company are proposed to be listed on leading stock exchanges BSE and NSE on January 4, 2023.
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Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.