Radiant Cash Management Services files draft documents for IPO

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Radiant Cash Management Services has filed preliminary documents with market regulator Sebi for a first share sale which includes a new issue of shares worth up to Rs 60 crore.

The Chennai-based company, an integrated treasury logistics player with a leading presence in the retail treasury management segment, will primarily use the proceeds from new issues of the initial public offering (IPO) to fund new issues. working capital and capital expenditure needs.

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The IPO includes a new issue of shares worth up to Rs 60 crore and an offer to sell (OFS) shares of 3 crore by the promoter, Colonel David Devasahayam and the capital company -investment Ascent Capital Advisors India, according to the Draft Red Herring Prospectus (DRHP).

In 2015, Ascent Capital acquired 37.2% of the company’s capital.

Of the new issue proceeds, 20 crore rupees will be used to fund working capital requirements and 23.92 crore rupees for capital expenditures necessary to purchase specially manufactured armored vans.

IIFL Securities Limited, Motilal Oswal Investment Advisors Limited and Yes Securities (India) Limited are principally responsible for the issue.

At least four companies have filed draft documents for IPOs in the past two weeks. With the stock market witnessing a bull run, many companies are taking the IPO route to raise funds.

In the first nine months of this year, up to 72 companies went public.


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