The initial public offering (IPO) of R K Swamy, an integrated marketing services firm, saw robust demand on Monday, with subscriptions reaching 2.18 times its offering size on the first day of bidding. According to data from the National Stock Exchange (NSE), the Rs 423.56 crore IPO attracted bids for 1,79,73,350 shares, surpassing the 82,32,946 shares available for purchase.
The Retail Individual Investors (RIIs) category saw an overwhelming response, with subscriptions reaching 7.84 times, while non-institutional investors showed significant interest, subscribing 2.97 times. However, the quota for Qualified Institutional Buyers (QIBs) saw a modest 1 per cent subscription rate.
The IPO comprises a fresh issue of up to Rs 173 crore and an Offer For Sale (OFS) of up to 87 lakh equity shares, valued at Rs 250.56 crore at the upper end of the price band, which is set between Rs 270-288 per share. Prior to the IPO, RK Swamy Ltd secured Rs 187 crore from anchor investors.
Proceeds from the fresh issue are earmarked for various purposes, including establishing a digital video content production studio, setting up new customer experience centers and computer-aided telephonic interview centres, and addressing general corporate requirements. Additionally, funds will be allocated towards enhancing the IT infrastructure of RK Swamy Ltd and its subsidiaries, Hansa Research, and Hansa Customer Equity.
RK Swamy Ltd is recognised as India's leading integrated marketing services provider, offering a comprehensive suite of creative, media, data analytics, and market research solutions. SBI Capital Markets, IIFL Securities, and Motilal Oswal Investment Advisors are overseeing the offer as managers.
Mukka Proteins IPO
The initial share sale of Mukka Proteins, which manufactures fish meal, fish oil and fish soluble paste, received 136.89 times subscription on the last day of bidding on Monday. The Rs 224 crore-IPO got bids for 7,66,57,65,155 shares against 5,60,00,435 shares on offer, according to data available with the NSE.
The portion for non-institutional investors got subscribed 250.26 times, while the portion for Qualified Institutional Buyers (QIBs) received 189.28 times subscription. The quota for Retail Individual Investors (RIIs) fetched 58.36 times subscription. The company fixed the price band at Rs 26-28 a share for the IPO. The issue was entirely a fresh issue with no Offer For Sale (OFS) component.