Radiant Cash Management Services IPO Subscribed 11% On Second Day
The IPO was subscribed 0.11 times, or 11%, as of 5:00 p.m. on Dec. 26.
Radiant Cash Management Services Ltd. has launched its initial public offering between Dec. 23 and Dec. 27.
The IPO had a slow start and was subscribed 0.04 times, or 4%, on day 1. The bidding was led by retail investors.
The retail cash management provider will have an issue size of Rs 387.9 crore, consisting of a fresh issue of Rs 60 crore and a Rs 327.9 crore offer for sale by promoters and other investors. The OFS of 3.31 crore shares was offered by the promoter group, selling at a price band of Rs 94–99 apiece in the IPO.
The issue comprises 30.87% of the post-issue equity share capital of the company. The promoter will continue to hold a majority stake of 53.20% post-issue.
IPO Details
Duration: Dec. 23 to Dec. 27.
Fresh Issue: Rs 60 crore.
Offer for sale: Rs 327.9 crore.
Price band: Rs 94–99 per share.
Issue size: Rs 387.9 crore.
Face value: Rs 1 apiece.
Lot size: 150 shares and multiples.
Listing on: BSE and NSE.
Lead managers: IIFL Securities, Motilal Oswal Investment Advisors Ltd., and Yes Securities.
Subscription Status: Day 2
The IPO was subscribed 0.11 times, or 11%, as of 5:00 p.m. on Dec. 26.
Institutional investors: 0.16 times
Non-institutional investors: 0.03 times
Retail investors: 0.12 times
