Radiant Cash Management IPO subscribe 36% on final day

27 Dec 2022 , 03:30 PM

Radiant Cash Management has received low-key response from the investors on its initial public offer (IPO). The issue received bids for 99,14,550 shares against 2,74,29,925 equity shares offered. This is just 36% subscription on December 27 till 3.30 PM.

Retail investors have bought 19% shares of the allotted quota, and a part set aside for non-institutional investors has been subscribed 22%. Qualified institutional buyers have bid for 77% shares of the reserved portion. However, it is mandatory for an IPO to get at least 90% bids along with full subscription at the QIB desk to sail through.

The initial public offer of Radiant Cash Management was opened for subscription on December 23. The company offered its shares at the price band of Rs 94-99 apiece.