Radiant Cash Management IPO subscribed 4 per cent on Day 1 of offer
- Country:
- India
The initial public offer of Radiant Cash Management Services was subscribed 4 per cent on the first day of subscription on Friday.
The initial share-sale received bids for 11,26,050 shares against 2,74,29,925 shares on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) was subscribed 6 per cent, while the portion for Qualified Institutional Buyers (QIBs) received 5 per cent subscription.
The Initial Public Offer (IPO) has a fresh issue aggregating up to Rs 60 crore and an offer for sale of up to 33,125,000 equity shares.
Price range for the offer is at Rs 94-99 a share.
Based on the upper band of the share price, the IPO is expected to fetch Rs 388 crore.
IIFL Securities, Motilal Oswal Investment Advisors and YES Securities are the managers to the offer.
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