Radiant Cash Management IPO to open on Friday, close on Dec 27

The initial public offering of Chennai-based Radiant Cash Management, backed by private equity fund Ascent Capital, will open for subscription on Friday and close on December 27, according to the red herring prospectus filed with the Securities and Exchange Board of India (Sebi).

The company will launch its IPO over 11 months after receiving approval from Sebi. Ascent Capital is set to sell up to 2 crore shares through an offer for sale, while the company will raise Rs 60 crore through fresh issue of equity shares.

The company offers cash management services and its marquee clientele ranges from financial institutions to e-commerce companies. It has more than 40,000 touch points across Tier-II and -III towns and cities.


IIFL Securities, Motilal Oswal Investment Advisors, and YES Securities are the book running lead managers to the issue.

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