Team MW | Oct 8, 2023 | 0
Radiant Cash Management IPO GMP, Price, Dates & Allotment Details 2022
Radiant Cash Management IPO opens on December 23 and closes on December 27, 2022. According to the DRHP filed in SEBI, the company is planning to issue 39,185,606 shares of ₹ 1 each, aggregating up to ₹ 387.94 crore through this public issue.
In terms of network locations or touch points, Radiant Cash Management is one of the largest participants in the retail cash management (“RCM”) section of the cash management services business in India. Radiant Cash Management is a player in integrated cash logistics.
As of July 31, 2021, the company offered services over 12,150 pin codes in India, serving more than 4,700 sites and 42,420 contact points across all districts (except Lakshadweep).
Some of its most notable clients are some of the biggest foreign, private, and public sector banks, and some of the biggest retail chains, NBFCs, insurance companies, e-commerce logistics businesses, railways, and retail gasoline distribution outlets are among the end users of its services.
The organisation conducts business across five verticals, including
- Cash pick-up
- Network currency management, commonly referred to as “cash burial” in the business world;
- Cash processing;
- Cash vans /cash in transit and
- Other value added services.
Radiant Cash Management IPO – Noteworthy Highlights
- In fiscal 2020 this was the Company with the highest EBITDA margin, ROCE and ROE amongst organised players in the cash management services segment. (Source: F&S Report)
- For the four months ended July 31, 2021 and Fiscals 2021, 2020 and 2019, company total annual currency movement, or the total value of the currency passing through its RCM business, amounted to ₹ 368.39 billion, ₹ 912.22 billion, ₹ 1,290.77 billion and ₹ 1,131.34 billion.
Objects of the Issue
The company proposes to utilise the Net Proceeds of the Fresh Issue towards funding the following objects:
- Funding working capital requirements.
- Funding of capital expenditure requirements for the purchase of specially fabricated armoured vans.
- General corporate purposes.
Financial Highlights (Restated)
|Particulars||Period ended on 30th June 2022||FY 2021-22||FY 2020-21||FY 2019-20||FY 2018-19|
|Profit After Tax||15.32||38.21||32.43||36.50||25.02|
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Radiant Cash Management IPO – Details
According to the DRHP filed in SEBI, the company is planning to raise about ₹ 387.94 crore through this public issue.
|Issue Type||Book Built Issue IPO|
|IPO Price||₹ 94 to ₹ 99 per share|
|Face Value||₹ 1 per share|
|Market Lot||150 shares|
|Issue Size||39,185,606 shares of ₹ 1 (Aggregating up to ₹ 387.94 Crore)|
|Fresh Issue||6,060,606 shares of ₹ 1 (Aggregating up to ₹ 60.00 Crore)|
|Offer for Sale||33,125,000 shares of ₹ 1 (Aggregating up to ₹ 327.94 Crore)|
|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|
|Listing At||NSE, BSE|
|Promoters||1. Col. David Devasahayam |
2. Dr Renuka David
GMP – Radiant Cash Management IPO
Radiant Cash Management IPO GMP or Grey Market Premium are available here. The IPO GMP Premium updated day by day for IPOs running period and the GMP rates fluctuate and became stable some time later. The GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Date – Radiant Cash Management IPO
Radiant Cash Management IPO opens on December 23 and closes on December 27, 2022.
|Opening Date||December 23, 2022|
|Closing Date||December 27, 2022|
|Basis of Allotment||December 30, 2022|
|Initiation of Refunds||January 2, 2023|
|Credit of shares to Demat A/c||January 3, 2023|
|Listing Date||January 4, 2023|
Lot Size – Radiant Cash Management IPO
The Radiant Cash Management IPO lot size is 150 shares. A retail-individual investor can apply for up to 13 lots i.e. 1,950 shares of ₹ 193,050.
|Retail (Minimum)||1||150||₹ 14,850|
|Retail (Maximum)||13||1,950||₹ 193,050|
|S-HNI (Minimum)||14||2,100||₹ 207,900|
|B-HNI (Minimum)||68||10,200||₹ 1,009,800|
Promoters Holdings – Radiant Cash Management IPO
|Pre-issue Shares Holdings||66.39%|
|Post-issue Shares Holdings||–|
Anchor Investors – Radiant Cash Management IPO
A total of 39,185,606 shares are offered to Anchor investors. Anchor Investor lock-in period for 50% of equity shares is Dec 22, 2022 and May 5, 2023 for the remaining portion.
- Anchor Investor Bid Date: Dec 22, 2022
- Anchor Portion Size: ₹ 387.94 crore (Shares offered * Upper Price)
- Anchor lock-in period end date (50% Shares): Around Feb 10, 2023 (30 Days)
- Anchor lock-in period end date (remaining shares): Around May 5, 2023 (90 Days)
SWOT Analysis – Radiant Cash Management IPO
|1. Leading integrated cash logistics player in a consolidating industry present across the value chain of retail cash management.|
2. Pan India presence with strong network in Tier 2 and Tier 3+ locations and fast growing end user segments.
3. Diversified client base with long standing relationship and ability to cross-sell value added services.
4. Robust Operational Risk Management.
5. Significantly built up technology to optimise operational profitability.
6. Steady financial growth.
|1. Company business is highly dependent on the banking sector in India to generate revenues.|
2. Outstanding legal proceedings.
3. Dependency on top 5 customers for generation of more than 60% revenue of the company.
4. Company business is subject to seasonal fluctuations in the industries.
|1. Increase in bank branches in India. And this increase outsourcing of dedicated cash vans.|
2. Regardless of whether or not digital payments are used, Currency in circulation (CIC) has expanded in developing countries in lockstep with GDP development.
3. Despite demonetization, in FY 2021, Currency in circulation (CIC) had doubled as compared to FY 2017 (period of Demonetization). CIC is expected to reach INR 50 trillion rupees by FY 2027.
|1. Decrease in use of cash.|
2. Disruptions in company information technology systems or breaches of data security.
3. A security breach could adversely affect company operations.
3. Change in technology.
|Download Prospectus (PDF)||IPO DRHP|
|Company Contact Information||Radiant Cash Management Services Limited|
28, Vijayaraghava Road, T. Nagar, Chennai 600 017,Tamil Nadu, India
Phone: +91 044 4904 4904
Email: [email protected]
|IPO Registrar||Link Intime India Private Ltd|
Phone: +91-22-4918 6270
Email: [email protected]
|IPO Lead Manager(s)||1. IIFL Securities Ltd |
2. Motilal Oswal Investment Advisors Pvt Ltd
3. YES Bank Limited
According to the DRHP filed in SEBI, the company is planning to raise about ₹ 387.94 crores through this public issue. The IPO subscription window will open on December 23, 2022 and close on December 27, 2022.
One lot of Radiant Cash Management IPO contains 150 shares of ₹ 14,850.
The minimum investment size is one lot for retail investors.
The finalization of Basis of Allotment for Radiant Cash Management IPO will be done on December 30, 2022, and the allotted shares will be credited to your demat account by January 3, 2023. Check the Radiant Cash Management IPO allotment status.
The Radiant Cash Management IPO shares listing date is January 4, 2023.
The investors’ portion for QIB - 50%, NII (HNI) – 15%, and Retail – 35%.