Latest News | Radiant Cash Management IPO Subscribed 4 Per Cent on Day 1 of Offer
Get latest articles and stories on Latest News at LatestLY. The initial public offer of Radiant Cash Management Services was subscribed 4 per cent on the first day of subscription on Friday.
New Delhi, Dec 23 (PTI) 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.
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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.
(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)