Radiant Cash Management Services files DRHP with SEBI for IPO
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Ascent Capital Advisors-backed Radiant Cash Management Services has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO).
The IPO comprises a fresh issue of Rs 60 crore, and an offer for sale of over 3.0125 crore equity shares by promoter and investor. The company intends to utilize Rs 20 crore for working capital requirements and Rs 23.92 crore towards capital expenditure and for general corporate purposes. IIFL Securities , Motilal Oswal Investment Advisors and Yes Securities (India) are the book running lead managers to the IPO.
Radiant Cash Management Services is an integrated cash logistics player with leading presence in retail cash management (RCM) segment of the cash management services industry in India and is one of the largest players in the RCM segment.
