Radiant Cash Management Services Limited | Globe Capital
Radiant Cash Management Services Limited
Closed
Price Band
Rs.94 to 99 per share
IPO Issue Period
Dec 23, 2022 to Dec 27, 2022
Issue Size
387.94 Cr
Face value
Rs. 1
Fresh issue
60.00 Cr.
Offer for sale
327.94 Cr
Minimum Shares for Retail
150 Shares
Listing on
NSE, BSE
Issue Type
Book Building
Registrar to the Issue
Link Intime India Private Ltd
Tentative Listing Date
Jan 04, 2023
QIB
Not More than 50% of the offer
NII
Not less than 15% of the offer
Retail
Not less than 35% of the offer

IIFL Securities Ltd
Motilal Oswal Investment Advisors Pvt Ltd
YES Bank Limited

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.

For year/ period ended ( in Cr.)

H1FY22 FY21 FY20
Total Revenue 286.04 221.67 248.28
Profit After Tax 38.21 32.43 36.50
EPS 3.77 3.20 3.60
OPM (%) 20.73% 22.20% 22.15%
PATM (%) 13.31% 14.47% 14.50%

 

  • Leading integrated cash logistics player in a consolidating industry present across the value chain of retail cash Management
  • Pan India presence with strong network in Tier 2 and Tier 3+ locations and fast growing end user segments
  • Diversified client base with long standing relationship and ability to cross-sell value added services
  • Robust Operational Risk Management
  • Experienced management team and backed by a reputed institutional investor

1. Funding working capital requirements.

2. Funding of capital expenditure requirements for the purchase of specially fabricated armoured vans.

3. General corporate purposes.

The company enjoys a niche place in retail cash management segment with a lion’s share. It sees vast opportunities in Tier-II and Tier-III cities with retailing businesses. The management is hopeful of maintaining the trends going forward as it is giving specialized cash logistics services. Investors may park funds with a medium to long term perspective.

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