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Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Radiant Cash Management Services Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.
Price Band
₹94
Per ShareLot Size
150 Shares
Minimum Investment
₹14,100
Issue Size
₹256.64 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
66.39%
Issue Type
Book Building
ISIN
INE855R01021
Radiant Cash Management Services Limited 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 July 31, 2021. The Company provides services across 12,150 pin codes in India covering all districts (other than Lakshadweep) with about 42,420 touch points serving more than 4,700 locations as of July 31, 2021. Its marquee clients include some of the largest foreign, private and public sector banks, and the end user of its services include some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, ecommerce logistics players, railways and retail petroleum distribution outlets. For the four months ended July 31, 2021 and Fiscals 2021, 2020 and 2019, Its total annual currency movement, or the total value of the currency passing through its RCM business, amounted to Rs. 368.39 billion, Rs. 912.22 billion, Rs. 1,290.77 billion and Rs. 1,131.34 billion. In fiscal 2020 It was the Company with the highest EBITDA margin, ROCE and ROE amongst organised players in the cash management services segment. The Company caters to broad set of outsourcing requirements pertaining to cash management services for banks, financial institutions, organized retail and e-commerce companies in India. The Company operates its business across five verticals, namely 1) cash pick-up and delivery; 2) network currency management (also known as cash burial in industry parlance); 3) cash processing; 4) cash vans /cash in transit and 5) other value added services.
Revenue, profit after tax and total assets across the last 3 reported financial years.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offer of 26,676,977* equity shares of face value of Re. 1 each ("Equity Shares") of Radiant Cash Management Services Limited for cash at a price of Rs. 94*^ per equity share (including a share premium of Rs. 93*^ per equity share) ("Offer Price") aggregating to Rs. 256.64* crores ("Offer") comprising a fresh issue of 5,454,546* equity shares aggregating to approximately Rs. 54.00* crores by the company (the "Fresh Issue") and an offer for sale of 21,222,431* equity shares aggregating to Rs. 202.64* crores ("Offer for Sale"), comprising of 6,486,856 equity shares aggregating to Rs. 61.94* crores by Col David Devasahayam (the "Promoter Selling Shareholder") and 14,735,575 equity shares aggregating to Rs. 140.70* crores by Ascent Capital (defined hereinafter) (the "Investor Selling Shareholder" and together with the promoter selling shareholder, "Selling Shareholders", and such equity shares, "Offered Shares"). The offer constitutes 25.00%* of the post-offer paid-up equity share capital of the company. *Subject to finalization of basis of allotment. The company has filed the with a fresh issue of up to Rs. 60.00 crores and an offer for sale for up to 33,125,000 equity shares. Subsequently the fresh issue has been reduced to approximately Rs. 54.00 crores and the offer for sale has been reduced to 21,222,431 equity shares. ^Allotment to anchor investors was done at Rs. 99 per equity share (including a share premium of Rs. 98 per equity share) Bid can be made for a minimum of 150 equity shares and in multiples of 150 equity shares thereafter.
*Subject to approvals and market conditions.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Cash in Circulation (CIC) is the sum of cash held by banks and currency held by the general public. In the last decade (FY 11- FY 21), CIC has almost increased three folds (at a CAGR of 9.85%), showing a positive growth rate for the period. A growth in CIC is essential for higher economic activity in the country and augurs well for the companies engaged in cash management industry. While demonetization had a significant impact on CIC, the release of pent-up demand after re-monetization, wealth redistribution, and lower lending rates, led to a v-shaped recovery of the total cash in circulation, which has since then almost doubled (in FY 21). Despite Covid, India's CIC grew by around 19.8% between March 2020 and March 2021, to approximately INR 28.4 trillion. As on August 20, 2021, CIC in India stood at a value of INR 29.5 trillion. CIC is predicted to reach INR 41.5 trillion by FY25, growing at a CAGR of 9.95%.
Radiant Cash Management Services Limited (the "Company" or the "Issuer") was incorporated in Chennai under the name 'Radiant Cash Management Services Private Limited' on March 23, 2005 as a private limited company, under the Companies Act, 1956 and was granted a certificate of incorporation by the Registrar of Companies, Tamil Nadu at Chennai ("RoC"). Thereafter, the Company was converted into a public limited company, pursuant to a special resolution passed in the extraordinary general meeting of its Shareholders held on August 21, 2021, and the name of the Company was changed to `Radiant Cash Management Services Limited', and a fresh certificate of incorporation dated August 25, 2021 was issued to the Company by the RoC.
The Company's marquee clients include some of the largest foreign, private and public sector banks, and the end user of our services include some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, ecommerce logistics players, railways and retail petroleum distribution outlets.
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.