Time, Cost, and GMP for the upcoming IPO of Radiant Cash Management
- Information about the initial public offering (IPO) of Radiant Cash Management can be found here. The IPO is scheduled to begin trading on December 23 and end on December 27.
- The initial public offering (IPO) of Radiant Cash Management is expected to raise about 387 crores, comprised of a new issue of 60 crores and the offer for sale of up to 30,125,000 equity shares at a price of 1 per share. Sales to the general public account for 35%, sales to qualified institutional buyers for 50%, and sales to high net-worth individuals for 15%.
- It was in 2005 when Colonel David Devasahayam established Radiant Cash Management Services Limited (RCMS). Specifically, they dominate the retail cash management (RCM) industry. Based on the number of network nodes or touchpoints they provide, as well as revenue and profitability, they rank among the RCM industry’s top competitors as of Fiscal Year 2021. (Source: F&S Report).
- As of July 31, 2021, Radiant Cash Management serves approximately 4,700 sites across India at over 42,420 touchpoints, including all districts except Lakshadweep. Major e-commerce enterprises, retail chains, NBFCs, insurance companies, e-commerce logistics players, railways, and retail petroleum distribution outlets are among their customers. 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 are among the company’s most prominent customers.
The main things the Company wants to do are:
- To run a business that provides Cash/Cheques/DDs Pickup and Delivery Services to Banks, Individuals, Commercial and Government Establishments, and Cash Processing, such as sorting good and dirty currencies, notes, and coins of different denominations.
- Overnight vaulting services for large amounts of cash and ATM cards, cassettes, and important documents, ATM services, handling of PIN mailers, draughts, and checkbook deliveries, and installation of safe rooms according to RBI rules.
- To run a business that manages electronic online and mobile financial and cash transactions, as well as products and intellectual property in the cash management field.
- Under Business Process Outsourcing, to do anything that has to do with managing cash.
- As of March 31, 2022, the company was one of the biggest players in the RCM segment in terms of the number of network locations or touch points it served.
- As of July 31, 2022, Radiant Cash Management Services serves 13,044 pin codes in India, which cover all districts except Lakshadweep. There are 55,513 touchpoints that serve more than 5,388 locations.
- The company’s most important 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, Yes Bank Limited.
Radiant Cash Management IPO Details
|IPO Date||Dec 23, 2022 to Dec 27, 2022|
|Face Value||₹1 per share|
|Price||₹94 to ₹99 per share|
|Lot Size||150 Shares|
|Issue Size||39,185,606 shares of ₹1
(aggregating up to ₹387.94 Cr)
|Fresh Issue||6,060,606 shares of ₹1
(aggregating up to ₹60.00 Cr)
|Offer for Sale||33,125,000 shares of ₹1
(aggregating up to ₹327.94 Cr)
|Issue Type||Book Built Issue IPO|
|Listing At||BSE, NSE|
|Market Cap (₹ Cr.)||1062.41|
|QIB Shares Offered||Not more than 50% of the Offer|
|NII (HNI) Shares Offered||Not less than 15% of the Offer or the Offer|
|Retail Shares Offered||Not less than 35% of the Offer|
|Company Promoters||Col. David Devasahayam and Dr Renuka David are the company promoters.|
Causes of the Problem
Total New Issue Net Proceeds:
- A source of working capital.
- 2. Expenditures for the acquisition of armoured vans that have been custom-built; the second round of funding for capital expenditure needs.
- Third, the company’s overarching goals.
|Period Ended||Total Assets||Total Revenue||Profit After Tax||Net Worth||Total Borrowing|
|Amount in ₹ Crore|
Dates for Radiant Cash Management’s IPO and listing
The date of the IPO for Radiant Cash Management is December 23, and the last day to buy shares is December 27. On December 30, the Radiant Cash Management IPO allocation will be finalized, and on January 3, the IPO will be listed.
The IPO form for Radiant Cash Management
How do I sign up for the IPO of Radiant Cash Management? You can use the ASBA form in your bank account to apply for the Radiant Cash Management IPO. Just go to your online bank login and select the Radiant Cash Management IPO in the Invest section. You can then apply through your bank account. You can also apply for Radiant Cash Management IPO by downloading IPO forms from NSE and BSE. Check out the Radiant Cash Management forms by clicking on “BSE Forms” and “NSE Forms.” You can then download blank IPO forms, fill them out, and give them to your bank or broker.
Radiant Cash Management IPO Tentative Timetable
Radiant Cash Management IPO opens on Dec 23, 2022, and closes on Dec 27, 2022. The Radiant Cash Management IPO bid date is from Dec 23, 2022 10.00 A.M. to Dec 27, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
|Opening Date||Dec 23, 2022|
|Closing Date||Dec 27, 2022|
|Basis of Allotment||Dec 30, 2022|
|Initiation of Refunds||Jan 2, 2023|
|Credit of Shares to Demat||Jan 3, 2023|
|Listing Date||Jan 4, 2023|
Radiant Cash Management IPO Lot Size
The minimum purchase for a Radiant Cash Management IPO lot is 150 shares. Generally speaking, the maximum number of lots (or 1950 shares, or 193,050) that a retail investor can apply for is 13.
Radiant Cash Management IPO Promoter Holding
|Pre Issue Share Holding||66.39%|
|Post Issue Share Holding||53.21%|
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Company Contact Information
28, Vijayaraghava Road,
T. Nagar, Chennai 600 017,
Tamil Nadu, India
Phone: +91 044 4904 4904
Radiant Cash Management IPO Registrar
Phone: +91-22-4918 6270
Q: What is the IPO for Radiant Cash Management?
The IPO for Radiant Cash Management is an IPO on the main board. They will get 387 Crores through an IPO. The price range for each equity share is between 94 and 99. BSE and NSE will both list the IPO.
Q: When will the IPO for Radiant Cash Management start?
On December 23, 2022, QIB, NII, and retail investors will be able to buy shares in the IPO.
Q: What is the Investor’s Portion of the Radiant Cash Management IPO?
For QIB, the investors’ share is 50%, for NII it’s 15%, and for Retail it’s 35%.
Q How to Use the IPO for Radiant Cash Management?
You can use your bank account to apply for the Radiant Cash Management IPO online through ASBA. Your stock brokers can also help you apply for ASBA online through UPI. You can also fill out the offline form and send it to your stock broker.
Q: How to Apply for the IPO through Zerodha for Radiant Cash Management?
Sign in to the Console on the website or in the app. Click on IPO in the Portfolio. You will see “Radiant Cash Management” as the IPO name. Click the “Offer” button. Type in your UPI ID, the amount, and the price. Send in Form IPO Application. Now, to approve the mandate, go to your UPI app on Net Banking or BHIM app.
Q: How do I sign up for the IPO of Radiant Cash Management?
You can use either UPI or ASBA to pay for the Radiant Cash Management IPO online. Your bank account’s online banking is where you can find the ASBA IPO application. Brokers offer the UPI IPO application, but they don’t do banking. Find out more about how to apply for an initial public offering (IPO) online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank, and SBI Bank.
Q: What is the IPO for Radiant Cash Management?
Radiant Cash Management’s initial public offering (IPO) is a main-board offering of 39,185,606 equity shares with a face value of 1 each, for a total of 387.94 Crores. The price per share is between 94 and 99. The least you can order is 150 Shares.
The IPO starts trading on December 23, 2022 and ends on December 27, 2022.
The IPO is being kept track of by Link Intime India Private Ltd. It is planned to list the shares on the BSE and NSE.
How do I apply for an IPO through Zerodha with Radiant Cash Management?
Customers of Zerodha can sign up for the Radiant Cash Management IPO online and pay with UPI. Customers of Zerodha can apply for the Radiant Cash Management IPO by logging in to their “back office” at Zerodha Console and filling out an IPO application form.
Q: How to apply for the Radiant Cash Management IPO through Zerodha?
- Log in to the Console on the Zerodha website.
- Click the IPOs link on the Portfolio page.
- Click the “Bid” button next to the “Radiant Cash Management IPO” row.
- Type in your UPI ID, the amount, and the price.
- “Send in” your IPO application form.
- To approve the mandate, go to the UPI App (net banking or BHIM).