Radiant Cash Management share price jumps over 13 per cent in debut trade

Shares of Radiant Cash Management Services ended with over 13 per cent gain in its debut trade on Wednesday against the issue price of Rs 94.

The stock listed at Rs 99.30, registering a gain of 5.63 per cent against the issue price on the BSE. During the day, it jumped 24.14 per cent to Rs 116.70. The stock ended at Rs 104.70 apiece, up 11.38 per cent.
On the NSE, shares of the company made its debut at Rs 103, higher by 9.57 per cent. It ended at Rs 106.50 per share, a jump of 13.29 per cent.

The company commanded a market valuation of Rs 1,117.23 crore on the BSE. The initial public offer of Radiant Cash Management Services was subscribed just 53 per cent last month.

The Rs 388-crore initial share-sale had a price range of Rs 94-99 a share. In the broader market, the BSE benchmark ended 636.75 points or 1.04 per cent lower at 60,657.45. Radiant Cash Management Services (RCMS) was founded in March 2005.

The company's clients include foreign, private, and public sector banks, and the end-user of its services include some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, according to information available on the firm's website.

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