Investing.com — The last week of the ongoing calendar year will witness two initial public offerings (IPOs) hitting the primary market. So far this year (2022), Dalal Street has welcomed thirty-eight IPOs, with five launching in December, and the count will rise to seven by the end of the week starting Dec 26, 2022.
The IPO of the retail cash management services provider Radiant Cash Management Services will close the public subscription on Tuesday, Dec 27 after opening on Dec 23, 2022, at a price band of Rs 94-99 per share.
The market leader in the segment, Radiant Cash Management expects to generate Rs 388 crore through a fresh issue of equity shares worth Rs 60 crore as well as an offer for sale (OFS) of 3,31,25,000 shares totalling Rs 328 crore by the company’s promoter David Devasahayam and the PE firm Ascent Capital Advisors India.
The company will use the proceeds from the issue to fund capital expenditure requirements for buying specially fabricated armoured vans as well as working capital requirements.
The other company launching its IPO in the upcoming week is the leading PP woven bags manufacturer, Sah Polymers.
The public issue will comprise 1.02 crore shares in a completely fresh issue, with a 75% quota of the offer reserved for Qualified Institutional Buyers (QIBs), 15% reserved for HNIs and the remaining 10% for retail investors.
The funds generated from the issue will be used for setting up an additional manufacturing unit for a new variant of FIBC having a capacity of 3,960 MT/year.
