Home/Article/Radiant Cash Management Services Ltd IPO Details with Share Price and Issue Size
Radiant Cash Management Services Ltd IPO Details with Share Price and Issue Size
07 Aug 2023
Opening Date  23, December 2022
Closing Date 27, December  2022
Refund Initiation 02, January 2023
Listing Date 04, January 2023
Face Value ₹1 per equity share
IPO Price Band ₹94 to ₹99 per equity share
Minimum Order Quantity 150  Shares
Issue Size ₹387.94 Cr

 

The December IPO season is here. In less than 20 days, the month saw 5 public issues going live. In the same month, India’s largest wine producer and seller - Sula Vineyards debuted in the market. While the IPO turned out to be an empty shell, listing of some issues such as - Abans Holdings, Landmark Cars and KFin Technologies is still awaited. Moreover, the IPO season is still blooming, with one more IPO coming live on 23rd December i.e - Radiant Cash Management Services Ltd. In this article, let’s study the details of this IPO and know whether it is a good opportunity to invest in or not.

About the Company -

Incorporated in the year 2005, Radiant Cash Management Services ltd is an integrated cash logistics player with leading presence in retail cash management. The company operates business across five verticals, namely

  1. Cash pick-up and Delivery;
  2. Network Currency Management;
  3. Cash Processing;
  4. Cash Vans/Cash-in-transit; and
  5. Other value-added services

The customers for the company include some of the largest foreign, private and public sector banks, and the end user of services include some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, eCommerce logistics players, railways and retail petroleum distribution outlets.

The company is one of the largest players in the RCM segment in terms of network locations or touch points served as of March 31, 2022.

The financials of the company for the last three financial years are given as below:

 

Particulars Three month period ended June 30, 2022 As of and for the Financial Year ended March 31
2022 2021 2020
  Equity share capital 10 10 1 1
  Networth 131 114 95 66
  Total Borrowings 26 27 11 21
  Revenue from Operations 84 286 222 248
  EBITDA 22 59 50 56
  Profit after Tax 15 38 32 37
  Earnings per Share (diluted) 1.5* 3.8 3.2 3.6
  Return on Equity 10% 27% 26% 31%
  Return on Capital Employed 11%* 33% 33% 38%
  Net asset value   15.3 13.8 12.6 11.8
(In ₹ per share)

 

all numbers stated are in crore, except share data.

*not annualized

Radiant Cash Management Services Ltd details -

Let’s now move onto the main part of this article. Here, we’re going to be looking at some of the most important details of this upcoming IPO 2023 viz - Radiant Cash Management Services Ltd date and its share price.

Radiant Cash Management Services Ltd issue date -

According to the Red Herring Prospectus filed by the company, the public issue of the equity shares is going live from December 23 and will be available for subscription until December 27, 2022.

Radiant Cash Management Services Ltd issue size -

The total issue size of the latest Radiant Cash Management Services Ltd India Ltd is declared to be ₹387.94 crores. This is a mix of fresh issues and an offer for sale. The company is offloading 3,31,25,000 equity shares in OFS, by promoter Col. David Devasahayam and Dr Renuka David. The selling shareholder will get all the proceeds and the company will receive the money only from the fresh issue of 60,60,606 shares.

50% of the offer is for QIBs (Qualified Institutional Buyers), 15% for retail investors, and the balance 35% for NIBs (Non-institutional Investors).

Radiant Cash Management Services Ltd share price

The price band of the company’s upcoming IPO is declared to range between ₹94 to ₹99 per equity share

Radiant Cash Management Services Ltd listing

Since the IPO of Radiant Cash Management Services Ltd is from the mainboard, it would be listed on both - the National Stock Exchange (NSE) as well as the Bombay Stock Exchange (BSE)

Radiant Cash Management Services Ltd's objectives

The net proceeds of the Issue, i.e. gross proceeds of the Issue are proposed to be utilized in the following manner:

  • Funding working capital requirements
  • Funding of capital expenditure requirements for the purchase of specially fabricated armored vans

Radiant Cash Management Services Ltd Strengths

  • One of the two leading investor solutions providers in India as on Q2FY23; providing services to 24 out of 41 AMCs in India, (59% of market share basis number of AMC clients)
  • Diverse multi-asset servicing platform with operation in many large markets
  • Unique “platform-as-a-service” business model with comprehensive end-to-end solutions
  • The asset-light business model with a recurring revenue model
  • Long-standing relationship with customers

Radiant Cash Management Services Ltd India Ltd risks

  • Significant disruptions in information technology systems or breaches of data security
  • A significant portion of revenue derived from MF clients
  • 50%  of Revenue derived from Top 5 Customers
  • Subject to SEBI & PFRDA regulations

Conclusion

If you wish to become a part of this exciting IPO opportunity, you will need to have an online Demat and trading account, which will help you get shares of your favorite companies. To get an online DEMAT account for Free*, all you have to do is sign-up with Motilal Oswal and get started.

If you are an existing customer with Motilal Oswal, you can now invest in the IPOs in just one click through UPI payment!

It’s all easy. It’s all good.

Related IPO Articles: GoAir IPO | Elin Electronics Limited IPO Landmark Cars Limited IPO | Arohan Financial Services IPO | Sula Vineyard IPO | Abans Holdings IPO Paras Defence and space technologies IPO | Utkarsh small finance bank IPO | Montecarlo Limited IPO | Sona BLW Precision Forgings Ltd IPO | Company Profile about Zomato IPO | How to apply for Zomato IPO with Motilal Oswal | What you must know before the launch of Zomato IPO

Checkout more Blogs

You may also like…

Get Exclusive Updates

Be the first to read our new blogs

Get Expert financial insights and advice for informed investment decisions.

Intelligent investment insights delivered to your inbox, for Free, daily!

Take your next step

Open Demat Account
I wish to talk in South Indian language
By proceeding you’re agree to our T&C