Public Market

IPO

Radiant Cash Management Services mops up Rs.116-Cr via anchor placement

MoneyControl  

Radiant Cash Management Services has raised INR 116.38 crore from anchor investors, ahead of its initial public offering at INR 99 per share. A total of 16 investors - including domestic mutual funds as well as foreign investors including Citigroup Global Markets, and Societe Generale - have bought via the anchor book The company plans to raise INR 388 crore via the IPO which comprises a fresh issuance of shares worth INR 60 crore and an offer for sale of INR 328 crore by existing shareholders in a price band of INR 94 - 99 a share.Promoter David Devasahayam and investor Ascent Capital Advisors India will be selling 3.31 crore shares via the offer for sale. Radiant Cash Management Services provides retail cash management services for banks, financial institutions, and organized retail and e-commerce companies in India.

From the Venture Intelligence PE-VC Deal Database: In Jan-2015, Radiant Cash Management had attracted about INR 80 Cr from Ascent Capital (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)