RK Swamy fixes price band at Rs 270-288 per share for its Rs 423 crore IPO

Integrated marketing services firm RK Swamy on Wednesday fixed a price band of Rs 270-288 per share for its a little over Rs 423-crore Initial Public Offering (IPO).

The initial share sale will be opened for public subscription during March 4-6 and the bidding for anchor investors will open for a day on March 1, the company said in a statement.

The Rs 423.56-crore IPO comprises a fresh issue of shares aggregating up to Rs 173 crore and an Offer For Sale (OFS) of up to 87 lakh equity shares by selling shareholders worth Rs 250.56 crore at the upper end of the price band.

Those offering shares in the OFS are -- Srinivasan K Swamy, Narasimhan Krishnaswamy, Evanston Pioneer Fund LP, and Prem Marketing Ventures LLP.

Funds raised through the fresh issue would be used for setting up a digital video content production studio, establishing new customer experience centres and computer-aided telephonic interview centres as well as for general corporate purposes.

Also, funds would be utilised for investment in the IT infrastructure development of RK Swamy and its subsidiaries Hansa Research and Hansa Customer Equity.

The company said that investors can bid for a minimum of 50 equity shares and in multiples of 50 equity shares thereafter.

During fiscal 2023, RK Swamy released over 818 creative campaigns on behalf of clients across various media outlets, handled over 97.69 terabytes of data, and conducted over 2.37 million consumer interviews across quantitative, qualitative, and telephonic surveys.

SBI Capital Markets, IIFL Securities, and Motilal Oswal Investment Advisors are the book-running lead managers to the issue.

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