Latest News | Radiant Cash IPO Subscribed Just 53 Pc on Last Day of Offer

New Delhi, Dec 27 (PTI) The initial public offer of Radiant Cash Management Services was subscribed just 53 per cent on the last day of subscription on Tuesday.

The Rs 388-crore initial share-sale received bids for 1,45,98,150 shares against 2,74,29,925 shares on offer, according to NSE data.

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The category meant for Qualified Institutional Buyers (QIBs) was fully subscribed, while non-institutional investors portion received 66 per cent subscription and Retail Individual Investors (RIIs) 20 per cent.

The Initial Public Offer (IPO) has a fresh issue of up to Rs 60 crore and an offer for sale of up to 33,125,000 equity shares.

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Price range for the offer is at Rs 94-99 a share.

IIFL Securities, Motilal Oswal Investment Advisors and YES Securities were the managers to the offer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)