Radiant Cash Mangement's shares end debut session at an 11.4 % premium

The shares of Radiant Cash Management ended its debut on the bourses with an 11.4 per cent premium to its issue price. The stock got listed at a 5 per cent premium to its issue price of Rs 94 and ended the session at Rs 104.7 The company had to reduce its issue size from Rs 387.94 crore to Rs 256.6 crore. The fresh issue component was reduced from Rs 60 crores to Rs 54 crores.

The offer for-sale portion was reduced from Rs 327.94 crore to Rs 202.09 crore.  Post-listing the company commands a market capitalisation of Rs 1,117 crore.  The company plans to use the proceeds of the fresh issue to fund its working capital requirements and capital expenditure requirements for the purchase of specially fabricated armoured vans.

Radiant is a cash management services provider. And the company provides services across 13,044 pin codes in India covering all districts (other than Lakshadweep) with about 55,513 touchpoints serving more than 5,388 locations as of July 31, 2022.

The company's clients include foreign, private and public sector banks. And the end user of its services includes some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, e-commerce logistics players, railways and retail petroleum distribution outlets.

The company offers cash pick-up and delivery, cash processing cash vans /cash in transit, and other value-added services.