RK Swamy gears up for IPO launch on March 4

Integrated marketing services firm RK Swamy is set to float its initial public offering on March 4.

The initial share sale will conclude on March 6 and the bidding for anchor investors will open for a day on March 1, according to the Red Herring Prospectus (RHP).

The company's proposed Initial Public Offering (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, according to the Draft Red Herring Prospectus (DRHP).

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

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.

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

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