Radiant Cash Management Services IPO analysis at Chanakyanipothi.com the Oldest & the most Trusted Investment Website in India. Operational since 8th December 1999, this is the Only Investment Platform in India, which has successfully completed 23 Years
Radian Cash IPO Listing: The scrip listed at Rs. 104 ( issue price Rs. 99)
Radiant Cash Management Services IPO Guidance:
The company is one of the largest players in the Retail Cash Management segment in terms of network locations or touch points served as of July 31, 2021. It provides services across 12,150 pin codes in India covering, with about 42,420 touch points serving more than 4,700 locations as of July 31, 2021. Its marquee clients include some of the largest foreign, private and public sector banks, and the end user of its services include some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, ecommerce logistics players, railways and retail petroleum distribution outlets. The size of the IPO is very small, e.g., Rs 387.94 Crore, so oversubscription is not an issue. The shares are offered at reasonable valuation of Upper Price Band/last EPS: 26.26 & Upper offer price/Book Value Ratio: 7.17. Yet comparing with Peer company-valuations, the offer price seems to be fully valued with very small scope for gains on listing. The fancy in the grey market is very low. You can apply with long angle, however if you have only listed gains, you may skip the IPO.
Radiant Cash Management Services Grey Market News Today #
GMP Rs.2 (No trades)
Listed at Rs 104
# On 27 December 2022 @ 5.00 pm (Day 3)
QIB : 7837121 Shares, 1.01T
Big NII : 3918560 Shares, 0.94T
SmallNII: 1959281 Shares, 0.09T
RII : 1374963 Shares, 0.21T
Total : 27429925 Shares, 0.53T
Radiant Cash Management Services Company Details
Radiant Cash Management Services is an integrated cash logistics player with leading presence in retail cash management segment of the cash management services industry in India and are one of the largest players in the RCM segment in terms of network locations or touch points served as of July 31, 2021. It provides services across 12,150 pin codes in India covering
all districts (other than Lakshadweep) with about 42,420 touch points serving more than 4,700 locations as of July 31, 2021.
Its marquee clients include some of the largest foreign, private and public sector banks, and the end user of its services include some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, ecommerce logistics players, railways and retail petroleum distribution outlets. For the four months ended July 31, 2021, and Fiscals 2021, 2020 and 2019, its total annual currency movement, or the total value of the currency passing through our RCM business, amounted to Rs 368.39 billion, Rs 912.22 billion, Rs 1,290.77 billion and Rs 1,131.34 billion. In fiscal 2020 it was the Company with the highest EBITDA margin, ROCE and ROE amongst organized players in the cash management services segment.
It caters to broad set of outsourcing requirements pertaining to cash management services for banks, financial institutions, organized retail and e-commerce companies in India. It operates its business across five verticals, namely 1) cash pick-up and delivery; 2) network currency management (also known as cash burial in industry parlance); 3) cash processing; 4) cash vans /cash in transit and 5) other value added services.
As of July 31, 2021, it was present across 42,420 touch points across 12,150 pin codes covering 6,759 touch points in tier 2 and 29,043 touch points in tier 3+ towns and cities across all states and union territories in India (other than Lakshadweep). Its ability to offer RCM services across India, with presence in tier 2 and tier 3+ towns and cities has enabled us to attract some of the largest foreign, private and public sector banks in India as its clients.
It has a client base covering some of India’s largest foreign, private sector and public sector banks (including India’s largest public sector bank). Amongst our key clients are Axis Bank , Citibank, Deutsche Bank Limited, HDFC Bank , ICICI Bank , Kotak Mahindra Bank, Standard Chartered Bank, State Bank of India, HSBC ltd and Yes Bank . Four of its top five clients in Fiscal 2021, have been with it for a period of more than five years. Its end user segments are fairly well diversified across multiple sectors, including e-commerce companies, retail chains, NBFCs, insurance firms, ecommerce logistics players, railways and retail petroleum distribution outlets. Some of the end users of its services include Bajaj Finance Limited, Equitas Small Finance Bank Limited, Ecom Express Private Limited, Delhivery Private Limited and Hiveloop Logistics Private Limited.
For more information, click www.radiantcashservices.com
The Promoters of Radiant Cash Management Services
Col. David Devasahayam & Dr. Renuka David
Radiant Cash Management Services IPO Main Objects
The Offer comprises of the Fresh Issue and Offer for Sale.
The Company proposes to utilize the Net Proceeds towards
towards the following objects
1. Funding working capital requirements.
2. Funding of capital expenditure requirements for purchase of specially fabricated armored vans
Radiant Cash Management Services IPO Details
IPO opens on 23 December 2022
IPO closes on 27 December 2022
Issue Type: Book Built Issue IPO
Issue : up to 39185606 Shares /Rs 387.94 Crore
* Fresh Issue of 6060606 Sh/ Rs.60 Cr
* Offer for Sale Up to 33,125,000 Sh/ Rs. 327.94 Cr
Face Value per share: Rs. 1
IPO Price Band: Rs. 94-99
Lot Size 150 Shares
Listing will at BSE, NSE
Shares offered to
QIB (50%) 19592803 Sh = Rs 193.97 Cr
NII (15%) 5877878 Sh = Rs 58.19 Cr
RII (35%) 13714925 Sh = Rs 135.78 Cr
Lot size: 150 Shares = 91432 Forms
How much Shares to Apply?
Min Retail Application 150 Sh Rs. 14850
Max Retail Application 1950 Sh Rs. 193050
Small HNI (Min) Application 2100 Sh Rs. 207900
Small HNI (Max) Application 10050 Sh Rs. 994950
Big HNI Application 10200 Sh Rs. 1009800
IPO Tentative Timetable
IPO opens on 23 December 2022
IPO closes on 27 December 2022
IPO Allotment on 30 December 2022
Unblocking of ASBA 2 January 2022
Credit of shares 3 January 2022
Listing on 4 January 2022
Radiant Cash Management Services IPO Financial & Analytical Ratios
Earnings per Share 2019-20 Rs 3.60
Earnings per Share 2020-21 Rs 3.20
Earnings per Share 2021-22 Rs 3.77
Return on Net Worth: 19-20: 30.53 %
Return on Net Worth: 20-21: 25.52 %
Return on Net Worth: 21-22: 27.34 %
Book Value of the Share as on 31.3.2022 Rs 13.80
Upper Price Band/last EPS: 26.26
Upper offer price/Book Value Ratio: 7.17
Radiant Cash Management Services IPO Peer Comparison:
None of the listed companies in India are engaged in business portfolio similar to this company. However, one listed company provides Cash management business along with other services, so details of that company has been provided.
SIS Limited @ PE Multiple of 17.62
CMS Info @ PE Multiple of 21.79
Radiant Cash Management Services IPO Lead Managers
IIFL Securities, Motilal Oswal Investment Advisors, Yes Securities
Registrar to Radiant Cash Management Services IPO
Linkintime India Pvt Ltd.
Registered Office of Radiant Cash Management Services
28, Vijayaraghava Road, T. Nagar, Chennai 600 017, Tamil Nadu
Company Secretary & Compliance Officer : Ms. Jaya Bharathi Karumuri,
#This is only coverage of News related to Grey Market . We donot deal in Grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.