Radiant Cash Management IPO: Check live subscription status

23 Dec 2022 , 03:36 PM

The initial public offer (IPO) of Radiant Cash Management has received cold-shoulder from investors as the IPO subscribed on 2% on Day 1 by 03:15 PM.

The issue has received bids for 6,16,800 equity shares out of 2,74,29,925 shares offered. It is subscribed only 4% by the retail investors and NII as well as QIB portion has not even ticked off, as per BSE data.

The company is selling its shares in the range of Rs 94-99 apiece from December 23 to December 27. Investors who want to invest in the IPO can with a lot size of 150 equity shares and its multiples thereof. The offer comprises a fresh issue of Rs 60 crore and an offer for sale (OFS) of 3.31 crore equity shares.

Ahead of the IPO, Radiant Cash Management raised Rs 116.38 crore from 16 anchor investors by allotting 1,17,55,681 shares at Rs 99 apiece, according to a BSE circular.