RK Swamy listing: Shares list at discount of 13% to IPO price on NSE
Upstox
2 min read • Updated: March 12, 2024, 11:41 AM
Summary
RK Swamy IPO, which listed at a discount of 13%, comprised a fresh issue of equity shares worth ₹173 crore and an offer for sale of 87 lakh shares.
Shares of RK Swamy Limited listed at a discount of 13% on Tuesday, March 12. On the NSE, RK Swamy shares opened at ₹250 per share compared to the issue price of ₹288 per share. Meanwhile, on the BSE, shares opened at ₹252 apiece, a discount of 12.50%.
The ₹423.56 crore IPO was subscribed over 25 times, receiving bids for 21.14 crore equity shares against 82.32 lakh shares on offer. The Qualified institutional buyers (QIB) quota was subscribed 20.58 times. The quota for non-institutional investors was booked 34.24 times, while the retail portion was subscribed 33.31 times the allotted quota.
The price band for the public offer was ₹270-288 per share. The IPO of RK Swamy comprised a fresh issue of equity shares worth ₹173 crore and an offer for sale of 87 lakh shares.
The company had raised ₹82 crore from anchor investors. Bajaj Allianz Life Insurance Company Ltd, LIC MF, SBI General Insurance Company Ltd and Goldman Sachs Singapore PTE ODI took part in the anchor round.
The funds generated from the IPO will be used to fund the working capital requirement, capital expenditure on a DVCP studio and investment in the information technology infrastructure.
About RK Swamy Limited
Established in 1973, RK Swamy is among the largest integrated marketing services providers. It provides creative, data analytics, media and market research services. Under integrated marketing communications, the company offers services such as creative and digital content, media, event planning, activation, buying, and execution.
As of the second quarter of FY 2023-24, R K Swamy has released over 438 creative campaigns for its clients. It has also handled over 140 terabytes of data (in FY23 + Q2 FY24) and executed over 1.44 million consumer interviews across quantitative, qualitative and telephonic surveys. These services are offered in 12 cities across three business categories, with over 2,500 employees based in 12 offices and 12 field locations.
Some of its clients include Dr Reddy’s Laboratories, Cera Sanitaryware, Gemini Edibles and Fats India, Hawkins Cookers, Havells India, Himalaya Wellness Company, ICICI Prudential Life Insurance Company, IFB Industries, Hindustan Petroleum Corporation and more.