Radiant Cash Management Services' IPO Subscribed 4% On Opening Day
The IPO was subscribed 0.04 times, or 4%, as of 5:00 p.m. on Dec. 23.
Radiant Cash Management Services Ltd. will launch its initial public offering between Dec. 23 and Dec. 27.
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 1
The IPO was subscribed 0.04 times, or 4%, as of 5:00 p.m. on Dec. 23.
Institutional investors: 0.05 times
Non-institutional investors: Zero
Retail investors: 0.06 times
