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All that you should know about the Company before applying for the IPO.
The public issue of equity shares of RADIANT CASH MANAGEMENT SERVICES LIMITED will open for subscription on December 23, 2022 and closes on December 27, 2022. It is expected to list on the stock exchanges on January 04, 2023. What does the company do? Why is the company going public? Who are its key competitors? Its key strengths, and lot more. Here’s everything that you want to know about the company to analyse the IPO.
Incorporated in 2005, the company (“Radiant”) is an integrated cash logistics player with leading presence in retail cash management (“RCM”) segment of the cash management services industry in India and is one of the largest players in the RCM segment in terms of network locations or touch points served as of March 31, 2022. They cater to broad set of outsourcing requirements pertaining to cash management services for banks, financial institutions, organized retail, and e-commerce companies in India. Radiant operates their business across 5 verticals: (i) Cash pick-up and delivery, (ii) Network currency management, (iii) Cash processing, (iv) Cash vans /cash in transit, (v) Other value-added services.
Radiant provides services across 13,044 pin codes in India covering all districts (other than Lakshadweep) with about 55,513 touch points serving more than 5,388 locations as of July 31, 2022. As of July 31, 2022, they had a fleet of 739 specially fabricated armoured vans through a combination of leased vehicles and on short term contractual basis. This allows them to service clients across the length and breadth of the nation along with the support of a team consisting of 8,780 persons, including employees and contractual workers.
Their marquee clients include some of the largest foreign, private, and public sector banks, and the end user of the services include some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, ecommerce logistics players, railways, and retail petroleum distribution outlets such as Axis Bank, Citibank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, SBI, Bajaj Finance, Equitas Small Finance Bank, Delhivery, among others.
Col. David Devasahayam and Dr. Renuka David
Given below are the objectives of the Company –
The Offer comprises a Fresh Issue by the company and an Offer for Sale by the selling shareholders. The company will not receive any proceeds from the Offer for Sale.
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding of the following objects:
|IPO Size||₹ 387.94 Crore *|
|Offer Mix||Fresh Issue ₹ 60 Crore + Offer For Sell ₹ 327.94 Crore|
|Price Band||₹ 94 - ₹ 99|
|Lot Size||150 Shares (& in multiples thereof)|
|Face Value||₹ 1|
|Application Amount||Min. ₹ 14,850 (1 lot) | Max. ₹ 1,93,050 (13 lots) [at upper price band]|
|Listing on||NSE & BSE|
|Registrar||Link Intime India Private Limited|
|Cut-off time for UPI Mandate Confirmation||27-December-2022 (up to 05:00 PM)|
₹ 193.97 Crore
(50% of the Issue Size)
₹ 58.19 Crore
(15% of the Issue Size)
₹ 135.78 Crore
(35% of the Issue Size)
|IPO Opens||December 23, 2022|
|IPO Closes||December 27, 2022|
|Finalization of the basis of allotment||December 30, 2022|
|Unblocking of funds / Initiation of refunds||January 02, 2023|
|Credit of equity shares to Demat accounts||January 03, 2023|
|Listing of equity shares||January 04, 2023|
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