Incorporated in 2005, Radiant Cash Management Services Limited is the market leader in retail cash management services for banks, financial institutions, and organized retail and e-commerce companies in India. The company offers a range of services under this segment consisting of collection and delivery of cash on behalf of our clients from the end user.
The company's management is supported by a qualified and motivated pool of about 2,012 employees (as of July 31, 2022).
The main objects of the Company are:
- To carry on the business of providing to Banks, Individuals, Commercial and Government Establishments, Cash/Cheques/DDs Pickup and Delivery Services, Cash Processing such as sorting for good and soiled currencies, notes, coins of various denominations, Overnight vaulting services for bulk cash and ATM cards, Cassettes & important documents, ATM Services, Handling of PIN mailers/drafts/cheque book delivery, Providing strong rooms installed as per RBI guidelines.
- To carry on the business of management of electronic online and mobile financial and cash transactions and product management and development of intellectual property in the area of cash management.
- To carry on any business regarding cash management under Business Process Outsourcing.
The company is one of the largest players in the RCM segment in terms of network locations or touch points served as of March 31, 2022.
Radiant Cash Management Services provide 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 key clients are Axis Bank Limited, Citibank, Deutsche Bank Limited, HDFC Bank Limited, ICICI Bank Limited, Kotak Mahindra Bank, Standard Chartered Bank, State Bank of India, The Hongkong and Shanghai Banking Corporation Limited and Yes Bank Limited.
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Funding working capital requirements; | ₹20 |
| 2 Funding of capital expenditure requirements for purchase of specially fabricated armoured vans; and | ₹25 |
| 3 General corporate purposes. | ₹4 |
| Metric | 31-Mar-19 | 31-Mar-20 | 31-Mar-21 |
|---|---|---|---|
| Total Assets | 141 | 158 | 162 |
| Revenue | 223 | 252 | 224 |
| PAT | 25 | 37 | 32 |
| Net Worth | 106 | 120 | 120 |
| Total Borrowing | 18 | 21 | 11 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 13,338,488 (50%) | — |
| NII / HNI | — | 4,001,547 (15%) | — |
| Retail (RII) | — | 9,336,942 (35%) | — |
| Total | — | 26,676,977 (100%) | — |
* Amount calculated at upper price band (₹99) · ** Total includes all investor categories
- 1 Initiation of Refund 03 Jan 2023
- 2 Credit of Shares to Demat 03 Jan 2023
- 3 Lock-in Period (30%) January 29, 2023
- 4 Lock-in Period (50%) March 30, 2023
- Retail allocation is good at 35% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 50%.
- The IPO P/E of 17x reflects a good valuation relative to typical market ranges.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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