RK Swamy IPO subscribed over 25 times on final day, check key details here

RK Swamy Ltd IPO was subscribed to over 25 times on the final day of bidding on Wednesday, March 6. The initial public offer of the integrated marketing servicing company received bids for 21.14 crore shares as against 82.32 lakh shares on offer.

RK Swamy IPO was received with enthusiastic response across all investor categories. The qualified institutional buyers (QIBs) allocation of 43.33 lakh shares booked 20.5 times. The company received bids for 8.92 crore shares in this category, as per the NSE data.

Retail investors submitted bids for 4.74 crore shares compared to 14.44 lakh shares allocated to the segment. The retail portion was booked 32.86 times at the end of the bidding process on March 6.

The non-institutional investor quota was subscribed 34.18 times as applications for a total of 7.4 crore shares were received compared to 21.66 lakh shares set aside for the category.

RK Swamy Ltd. aims to raise ₹ 424 crore through the IPO consisting of a mix of fresh issue and offer for the sale of shares.

Ahead of the subscription of the public issue, the marketing company raised ₹82 crore in the anchor round on March 1. SBI General Insurance Company Ltd, Bajaj Allianz Life Insurance Company Ltd, LIC MF and Goldman Sachs Singapore PTE ODI participated in the anchor round.

RK Swamy Ltd IPO Allotment

The basis of share allotment in RK Swamy IPO is tentatively scheduled to be finalised on March 7. Investors can check the allotment online on the official website of the registrar— Kfin Technologies Limited.

It will be followed by the initiation of refunds for the non-allottees and credit of shares into the Demat account of successful bidders on March 11. RK Swamy Ltd shares are expected to be listed on the National Stock Exchange and BSE on Tuesday, March 12.

RK Swamy Ltd IPO Details

RK Swamy IPO consists of a mix of fresh issue of shares worth ₹178 crore and an offer for sale (OFS) of 87 lakh equity shares by existing promoters and investors. Of the total shares on offer, the company reserved not less than 75% for qualified institutional buyers (QIBs) and 15% for non-institutional investors RK Swamy Ltd had set aside 10% of the net issue for retail individual investors.

RK Swamy IPO lot size was fixed at 50 shares, aggregating to a minimum investment of ₹14,400 for retail investors.

Another portion of shares worth ₹7.5 crore was reserved for its eligible employees. These shares were available at a discount of ₹27 per piece during the bidding process.

Proceeds from the public issue will be utilised for funding the company's working capital requirement, capital expenditure on a new video content production studio and investment in IT infrastructure development.

An integrated marketing company, RK Swamy Ltd offers services in three segments --integrated marketing communications, customer data analytics and marketing technology, and full-service market research and syndicated studies.