Upcoming IPO: Radiant Cash Management Services file draft papers for initial offer
Zee News
Radiant Cash Management Services has filed the preliminary papers with markets regulator Sebi for an initial share sale that includes fresh issue of stocks worth up to Rs 60 crore.
New Delhi: Radiant Cash Management Services has filed the preliminary papers with markets regulator Sebi for an initial share sale that includes fresh issue of stocks worth up to Rs 60 crore.
The Chennai-based company, an integrated cash logistics player with leading presence in retail cash management segment, will mainly utilise the fresh issue proceeds from the initial public offering (IPO) towards funding working capital and capital expenditure requirements.
The IPO comprises fresh issue of shares worth up to Rs 60 crore and an offer for sale (OFS) of 3 crore shares by promoter Col. David Devasahayam and private equity firm Ascent Capital Advisors India, according to the draft red herring prospectus (DRHP).