Ahead of IPO, RK Swamy mobilises Rs 187 cr from anchor investors

Integrated marketing services firm RK Swamy, on Friday, said it has collected Rs 187 crore from anchor investors, days before its Initial Public Offering (IPO).

The company has allotted 65 lakh equity shares to 18 funds at Rs 288 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website.

Goldman Sachs (Singapore), Citigroup Global Markets Mauritius, Societe Generale, SBI General Insurance Company, Bajaj Allianz Life Insurance Company, LIC Mutual Fund and JM Financial Mutual Fund are among the anchor investors.

The Rs 423.56 crore IPO comprises a fresh issue of shares worth up to Rs 173 crore and an Offer For Sale (OFS) component of up to 87 lakh equity shares 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.

The issue, with a price band of Rs 270-288 per share, will be open for public subscription during March 4-6.

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.

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

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