Radiant Info Systems, Bangalore-based information technology solutions provider, has finally filed the draft red herring prospectus (DRHP) with market regulator, Securities and Exchange Board of India (SEBI) to tap the capital market with an initial public offering (IPO) of 65.07 million equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The net issue would constitute 31.85% of the fully diluted post issue paid-up capital of the company.

Radiant Systems provides information technology solutions to various industries like transportation & logistics, pharmaceuticals, telecom, financial, e-governance etc.

The objects of the issue are to finance the funds required for potential acquisitions (Rs 40 crore) and to set up a Software Development Center at Gowribidanur Industrial Area (Rs 46.94 crore), Bangalore. Remaining proceeds are aimed to be utilized for meeting working capital, other corporate and issue related expenses.

The equity shares are proposed to be listed on Bombay Stock Exchange of India (BSE) and National Stock Exchange (NSE).
Book-running lead managers to the issue are IL&FS Investsmart Securities Ltd and Saffron Capital Advisors Pvt. Ltd, and the registrar is Aarthi Consultants Pvt. Ltd.