Radiant Cash Management IPO subscribed 7% so far on day 2

26 Dec 2022 , 03:50 PM

The initial public offer (IPO) of Radiant Cash Management Services has received muted response from the investors on day 2 of the offer. The company is selling its shares at a price range of Rs 94-99 apiece from December 23 to December 27. Click here to apply for the IPO.

According to the BSE data, investors bid for 18,66,750 equity shares out of 2,74,29,925 equity shares offered by 3.30 PM on December 26. The quota for retail investors was booked 10%, whereas institutional and non-institutional portion was booked 5% and 2% respectively.

The company has also raised Rs 116 crore from anchor investors ahead of the IPO by allotting them 1,17,55,681 shares on upper price band.

IIFL Capital Services, Motilal Oswal Investment Advisors and Yes Securities are the BRLM of the issue, whereas Link Intime India has been appointed as registrar for the issue.