The initial public offerings (IPOs) for the week are-
Radiant Cash Management Services Limited-
Radiant cash management services limited is a logistics player with a presence in the retail cash management segment of the cash management services industry in India and is one of the largest players in terms of network locations or touch points served. It provides services across 13,044 pin codes in India covering all districts (other than Lakshadweep) with about 55,513 touchpoints serving more than 5388 locations. The company’s clients include some of the largest foreign, private, and public sector banks, and the end users of the services include some of the largest e-commerce companies, retail chains, NBFCs, insurance firms, eCommerce logistics players, railways, and retail petroleum distribution outlets.
Radiant cash management services limited caters to a broad set of outsourcing requirements pertaining to cash management services for banks, financial institutions, organized retail, and e-commerce companies in India. It operates in five verticals as mentioned below-
Cash pick-up and delivery: The services of the company in this segment consist of the collection and delivery of cash on behalf of clients from the end user. Based on volumes, multiple modes of transport are used for the movement of cash and valuables, including two-wheelers, hired vehicles, and specially fabricated armored vans.
Network currency management: The services under this segment consist of cash collection from the end user and deposit into the company’s current accounts and subsequent transfer to the client’s accounts either on the same day or on the next working day.
Cash processing: The Company offers value-added cash processing services to clients that include trained executives sorting the notes into categories such as soiled, mutilated, fit, issuable, counterfeit, ATM-ready bundles, etc.
Cash Vans / Cash in transit: Radiant cash management services offer specially fabricated armored vans, on long-term or ad-hoc hire for the movement of cash or bullion.
Other value-added services: The Company also offers man-behind counter and currency chest operations to large retail stores and banks.
The Promoters of our Company are Col. David Devasahayam and Dr. Renuka David. The proceeds from the issue would be utilized for funding the working capital requirements and funding capital expenditure requirements for the purchase of specially fabricated armored vans and general corporate purposes.
The company had revenues of Rs 251.7 crore with a profit of 36.5 crores (Year ended March 31, 2020), revenues of Rs.224.1 crores with a profit of Rs. 32.5 crores (Year ended March 31, 2020), and revenue of Rs. 286.9 crores with a net profit of Rs. 38.2 crores (Year ended March 31, 2021).
Moksh Overseas Educon Limited-
Moksh Overseas Educon Limited is an Edu-Medi Tech company engaged in the business of offering diverse and cohesive learning solutions, counseling, and mobility services to students aspiring to pursue medical studies (MBBS) in India or abroad under its brand “MOKSH”. The company is a digitally native, technology-led business, providing an online learning program (test preparation) for medical entrance examinations, NEET-UG, and for medicos to appear for the medical licensing examination, such as USMLE, PLAB, DHA, NeXT, FMGE, etc, under the brand “MOKSH Academy” (‘healthcare academy’). The company has a presence across 23 touch points in India, of which it has a presence in 18 cities through franchisee arrangements and has registered and branch offices in 5 cities viz Mumbai, Pune, Delhi, Bhopal, and Ahmedabad.
Student mobility services: Under the brand MOKSH the company offers student mobility services to students aspiring to pursue medical studies abroad, i.e. in foreign medical universities. The student mobility services cover the entire journey of a student pursuing medical studies abroad right from selecting the university to post-arrival services, such as airport pick up at the destination, landing arrangements to reach the hostel, local health insurance coverage, resident permit extension, registration with local authorities, facilitating accommodation, student to university contract that helps settle students in a new country.
Healthcare Academy: The Company has expanded its presence in the Edtech arena under the brand MOKSH Academy by increasing its capacity to provide a wide range of online test preparatory courses for students pursuing medical licensing examinations such as USMLE, NeXT, FMGE, etc. in a simple, coherent and well-structured manner. Medical licensing exams are mandatory for medicos who want to practice medicine. The online learning model comprises recorded videos and online live instructor-led learning mode and the company offers a video library prepared by its content team, which helps aspiring students to prepare for their entrance exams such as NEET-UG and for medical licensing exams such as USMLE, NeXT, FMGE, etc
The Promoter of our Company is Ms. Priti Dhananjay Shah. The net proceeds from the issue would be utilized to meet the working capital requirements and enhance the visibility and awareness of the brands.
The company had revenues of Rs 10.09 crore with a profit of 1.11 crores (Year ended March 31, 2022.