Radiant Cash Management Services Ltd Company Summary

Radiant Cash Management Services Ltd Summary

Radiant Cash Management Services Limited was incorporated in Chennai, Tamil Nadu under the name Radiant Cash Management Services Private Limited on March 23, 2005 as a Private Limited Company, under the Companies Act, 1956 by the RoC. Thereafter, Company converted into a Public Limited Company on August 21, 2021, and the name was changed to Radiant Cash Management Services Limited, and a fresh Certificate of Incorporation dated August 25, 2021 was issued to Company by the RoC.The Company is one of the leading integrated cash logistics player with strong presence in retail cash management (RCM) segment of the cash management services industry in India and is one of the largest players in the RCM segment in terms of network locations or touch points served. It cater to broad set of outsourcing requirements pertaining to cash management services for banks, financial institutions, organized retail and e-commerce companies in India. Apart from these, the Company operate their business across five verticals, mainly comprising cash pick-up and delivery; network currency management; cash processing; cash vans /cash in transit and other value added services. As an integrated RCM service provider, it offer value added cash processing services, which are in the nature of their trained executives sorting the notes into categories such as soiled, mutilated, fit, issuable, counterfeit, ATM-ready bundles, etc. The services consists of cash collection from end user and deposit into the current accounts and subsequent transfer to the clients accounts either on the same day or on the next working day.The Company provide RCM services to clients serving more than 5,388 locations. Their integrated offerings are supported by customised technology and process controls, which enables the Company to offer wide range of solutions, while generating cross-selling opportunities and driving synergies and efficiencies across our business. It has created the RADMUS mobile application which is an enterprise mobile application for secure end-to-end reconciliation between customer, end user and Company. It operate on an asset light model, with all of the fleet of cash vans being leased. The Company obtained its first Retail Cash Management contract from Deutsche Bank Limited in August 2005 for cash pickup and delivery services and network cash management services for end-users in the states of Tamil Nadu and Kerala. The Company is certified by Intertek Certification Limited under the requirements of ISO 9001:2015 for provision of cash management services through cash and cheque collection, transportation, processing, vaulting and deposition and we undergo periodic audit of processes and systems for the certification and renewals. It undergo several external audit processes from clients on various aspects of operations including business continuity plans, disaster recovery plans and standard operating procedures on a periodic basis. The Company came out with an Initial Public Offer in December, 2022 and raised an aggregate of Rs. 257 Crores Equity Shares through Fresh Issue amounting to Rs. 54 Crores and Offer for Sale by issuing 21,222,431 Equity Shares.In 2023-24, the Company ventured into Diamond Jewellery & Bullion logistics by establishing Radiant Valuable Logistics. It further ventured into fintech with the acquisition of Acemoney; which offers a unified platform for cash and digital banking services.The Company launched an innovative product named Radiant Insta Credit (RIC) in May, 2024.