Radiant Cash Management Listing: The listing of shares of Radiant Cash Management Services, a giant in the retail cash management sector, has dealt a blow to the hopes of profit-makers. Shares of Radiant Cash Management Services are listed today at Rs 99.30 per share on BSE. This is a completely flat listing in front of the issue price of Rs 94 for the IPO. Although its shares have been listed at Rs 103 on the NSE.
Know about Radiant Cash Management IPO
Radiant Cash Management’s IPO opened on December 23 and investors could apply till December 27. Radiant Cash Management Services had fixed the price band of the IPO at Rs 94 to Rs 99 per share. Investors could apply for a minimum of 150 shares and thereafter apply in multiples thereof. In this IPO, 3.31 shares have been offloaded by the promoters and investors of the company under 60 crore fresh issue and offer for sale. In the IPO, 50 per cent quota was reserved for institutional investors, 15 per cent for non-institutional investors and 35 per cent for retail investors.
Learn about Radiant Cash Management
Radiant Cash Management Services was established in 2005 which provides retail cash management services to banks, financial institutions, organized retail and e-commerce companies. The company does the work of cash collection to delivery for its clients. If we look at the financial results of the company, the revenue of the company in 2021-22 was Rs 286.97 crore, on which there was a profit of Rs 38.21 crore. At the same time, in the first financial year 2020-21, there was a revenue of Rs 224.16 crore, on which there was a profit of Rs 32.43 crore.