RK Swamy and Bharat Highways InvIT: Here's how two IPOs performed on listing day
Upstox
2 min read • Updated: March 12, 2024, 2:51 PM
Summary
The IPO of RK Swamy, which listed at a discount of 13%, was subscribed 25 times. The public issue of Bharat Highways InvIT listed at a premium of 1%.
The initial public offerings (IPOs) of RK Swamy Limited and Bharat Highways InvIT were listed on the BSE and National Stock Exchange (NSE) today.
RK Swamy IPO listing
Shares of RK Swamy made a weak debut on the exchanges 13% below the issue price. The stock opened on NSE at ₹250 per equity share against the issue price of ₹288. On the BSE, the shares are listed at ₹252, a discount of 12.50%.
The ₹423.56 crore IPO had a price band of ₹270-₹288 per share. The public issue was subscribed over 25 times, with retail investors bidding 33.31 times the quota allotted for them. The non-institutional investors' quota was subscribed 34.24 times, while the qualified institutional buyers' quota was booked 20.58 times. The company had also raised ₹82 crore from anchor investors.
RK Swamy, established in 1973, is one of the largest providers of integrated marketing services. The company offers a range of services, including data analytics, media planning and buying, creative content, market research, event planning, activation and execution.
Its clients include Dr Reddy’s Laboratories, Gemini Edibles and Fats India, Hawkins Cookers, Havells India and Hindustan Petroleum Corporation among others.
Also read: IPO fever at its peak: 2 mainboard, 6 SME IPOs to hit markets this week
Bharat Highways InvIT listing
Bharat Highways InvIT stock made a tepid debut with the listing at just a 1% premium on the stock exchanges against the issue price of ₹100 per share.
The ₹2,500 crore IPO of the infrastructure investment company's price band was fixed at ₹98 to ₹100 per unit. The issue was subscribed 6.75 times. The QIB portion was booked 6.6 times, while NIIs subscribed 6.93 times.
Bharat Highways InvIT is an investment trust that focuses on acquiring infrastructure assets in India and overseeing their management. The assets are located in Uttar Pradesh, Maharashtra, Andhra Pradesh, Punjab and Gujarat. The projects are being operated on a Hybrid Annuity Model (HAM).
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