Marketing Services Firm RK Swamy's Rs 423-Crore IPO To Open On March 4

The IPO, totaling Rs 423.56 crores, consists of a fresh issue of shares amounting to Rs 173 crores

RK Swamy IPO: The initial share sale will be open for public subscription from March 4 to March 6, with bidding for anchor investors set to commence on March 1 for a day.

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Integrated marketing services firm RK Swamy Ltd announced on Wednesday that it has fixed a price band of Rs 270-288 per share for its Initial Public Offering (IPO), valued at slightly over Rs 423 crores. The company stated that the initial share sale will be open for public subscription from March 4 to March 6, with bidding for anchor investors set to commence on March 1 for a day, according to a statement released by RK Swamy Ltd.

The IPO, totaling Rs 423.56 crores, consists of a fresh issue of shares amounting to Rs 173 crores and an Offer For Sale (OFS) of up to 87 lakh equity shares by selling shareholders, valued at Rs 250.56 crores at the upper end of the price band. The selling shareholders participating in the OFS include Srinivasan K Swamy, Narasimhan Krishnaswamy, Evanston Pioneer Fund LP, and Prem Marketing Ventures LLP.

Proceeds from the fresh issue will be allocated towards various initiatives, including establishing a digital video content production studio, setting up new customer experience centers and computer-aided telephonic interview centers, along with general corporate purposes. Additionally, investments in the IT infrastructure development of RK Swamy Ltd and its subsidiaries Hansa Research and Hansa Customer Equity are also planned.

Investors have the opportunity to bid for a minimum of 50 equity shares and in multiples of 50 equity shares thereafter, as per the company's statement.

RK Swamy Ltd is recognised as the largest Indian majority-owned integrated marketing services provider in India, offering comprehensive solutions for creative, media, data analytics, and market research services.

In fiscal year 2023, RK Swamy executed over 818 creative campaigns for clients across various media platforms, managed over 97.69 terabytes of data, and conducted more than 2.37 million consumer interviews spanning quantitative, qualitative, and telephonic surveys. SBI Capital Markets, IIFL Securities, and Motilal Oswal Investment Advisors have been appointed as the book-running lead managers to the issue.