On Wednesday, Radiant Cash Management Services Limited had a successful debut on the stock exchange. The stock was listed at ₹ 103 on the National Stock Exchange, which is a 9.57% increase from the initial public offering price of ₹ 94 per share.
Additionally, the stock debuted on the BSE at a premium of 5.64% at a price of ₹ 99.30. Prior to being listed on the exchange, the stock was being traded at a slightly higher price than its initial public offering in the unofficial market.
The size of the initial public offering was decreased from ₹ 387.94 crore to ₹ 256.66 crore, with the allotment price being reduced to ₹ 94 from ₹ 99. The portion of the offering that consists of new shares was reduced from ₹ 60 crore to ₹ 54 crore, and the portion that was being sold by existing shareholders was reduced from ₹ 327.94 crore to ₹ 202.66 crore.
The company’s initial public offering had a lackluster response, as it was only subscribed to by just over 50%.
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