Radiant Cash Management Services Limited IPO
Radiant Cash Management Services Limited IPO
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The Initial Public Offering of Radiant Cash Management Services Limited's culminated in its successful listing on 04-01-2023 at the NSE, BSE trading platform. The company secured 2,66,76,977 Shares through this capital market exercise, with 54,54,546 Shares allocated to new capital formation and ₹202.64 Cr to existing shareholder liquidity.
Investors participated within the price parameters of ₹94 to ₹99, with minimum investment requirements of 150 shares. The subscription period from 23-12-2022 to 27-12-2022 witnessed active investor engagement across categories.
Following the subscription closure, share allotment was processed on 02-01-2023. The subsequent listing established a public market for the company's shares, enabling price discovery and secondary market trading for investors.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Radiant Cash IPO About Company
Incorporated in 2005, Radiant Cash Management Services Limited is a leading provider of retail cash management (RCM) services in India, catering to banks, financial institutions, and organized retail and e-commerce companies. The company’s services include cash collection and delivery, cash processing, overnight vaulting, ATM cash management, and delivery of sensitive banking materials such as PIN mailers and cheque books. Supported by a team of around 1,761 employees (as of July 31, 2021), Radiant operates across 12,150 pin codes covering nearly all Indian districts, with 42,420 touchpoints and over 4,700 service locations. Its main objectives encompass offering secure and efficient cash logistics, managing digital and mobile financial transactions, and undertaking BPO activities related to cash management. Key clients include leading banks such as HDFC Bank, ICICI Bank, Axis Bank, SBI, Kotak Mahindra Bank, Citibank, and HSBC.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Radiant Cash IPO Strength Factors
NA
Radiant Cash IPO Risk Factors
NA
Radiant Cash IPO Lead Manager(s)
- IIFL Securities Limited
- Motilal Oswal Investment Advisors Limited
- Yes Securities (India) Limited
Radiant Cash IPO Promoter(s)
- Col. David Devasahayam
- Dr Renuka David
Radiant Cash IPO FAQs
Radiant Cash Management Services Limited IPO subscribed 0.53 times. The public issue subscribed 0.21 times in the retail category,1.07times in QIB, and 0.99 times in the HNI (10+) category byNovember 13, 2025 11:28:34 AM (Day 13).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Radiant Cash IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Radiant Cash IPO FAQs
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