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Radiant Cash Management Services Limited IPO Detail

Radiant Cash Management Services Limited IPO Detail

Incorporated in 2005, Radiant Cash Management Services Limited is the market leader in retail cash management services for banks, financial institutions, and organized retail and e-commerce companies in India. The company offers a range of services under this segment consisting of collection and delivery of cash on behalf of our clients from the end user.

The company's management is supported by a qualified and motivated pool of about 1,761 employees (as of July 31, 2021).

The main objects of the Company are:

  • To carry on the business of providing to Banks, Individuals, Commercial and Government Establishments, Cash/Cheques/DDs Pickup and Delivery Services, Cash Processing such as sorting for good and soiled currencies, notes, coins of various denominations, Overnight vaulting services for bulk cash and ATM cards, Cassettes & important documents, ATM Services, Handling of PIN mailers/drafts/cheque book delivery, Providing strong rooms installed as per RBI guidelines.
  • To carry on the business of management of electronic online and mobile financial and cash transactions and product management and development of intellectual property in the area of cash management.
  • To carry on any business regarding cash management under Business Process Outsourcing.

The company is one of the largest players in the RCM segment in terms of network locations or touch points served as of July 31, 2021.

Radiant Cash Management Services provide services across 12,150 pin codes in India covering all districts (other than Lakshadweep) with about 42,420 touchpoints serving more than 4,700 locations as of July 31, 2021.

The company's key 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 and Yes Bank Limited. 

Company Promoters

Col. David Devasahayam and Dr Renuka David are the company promoters.

IPO Details

IPO Opening DateDec 23, 2022
IPO Closing DateDec 27, 2022
Issue TypeBook Built Issue IPO
Face Value₹1 per equity share
IPO Price ₹94 - 99 per equity share
Market Lot150 Shares
Min Order Quantity150 Shares
Listing AtBSE, NSE
Issue Size₹387.94 Cr
Fresh Issue₹60.00 Cr
Offer for Sale₹327.94 Cr
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0.05x 0.01x 0.06x - 0.04x
Day 2 0.16x 0.03x 0.12x - 0.11x
Day 3 1.01x 0.66x 0.21x - 0.53x

IPO Tentative Timetable

The Radiant Cash Management Services Limited IPO open date is Dec 23, 2022, and the close date is Dec 27, 2022. The issue may list on Jan 04, 2023.

IPO Open DateDec 23, 2022
IPO Close DateDec 27, 2022
Basis of Allotment DateDec 30, 2022
Initiation of RefundsJan 02, 2023
Credit of Shares to Demat AccountJan 03, 2023
IPO Listing DateJan 04, 2023

IPO Lot Size

The Radiant Cash Management Services Limited IPO market lot size is 150 shares. A retail-individual investor can apply for up to 13 lots (1950 shares or ₹193050).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding66.39%
Post Issue Share Holding

Company Financials:

For the year/period ended (₹ in Crore)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 157.62 251.78 36.5
31-Mar-22 162.14 224.16 32.43
30-Jun-22 159.57 59.88 7.44

Objects of the Issue:

The net proceeds of the Fresh Issue:

1. Funding working capital requirements.

2. Funding of capital expenditure requirements for the purchase of specially fabricated armoured vans.

3. General corporate purposes.

Radiant Cash Management Services Limited IPO Registrar:

Link Intime India Private Ltd

Radiant Cash Management Services Limited IPO Lead Manager(s):

IIFL Securities Ltd Motilal Oswal Investment Advisors Pvt Ltd YES Bank Limited

Company Contact Information:

Radiant Cash Management Services Limited

28, Vijayaraghava Road, T. Nagar


Tamil Nadu