R K Swamy IPO subscribed 6 times on Day 2 of bidding

The initial public offer of integrated marketing services firm R K Swamy received 6 times subscriptions on the second day of bidding on Tuesday.

The Rs 423.56 crore IPO got bids for 4,94,64,550 shares against 82,32,946 shares on offer, according to NSE data.

The category for Retail Individual Investors (RIIs) received 18.28 times subscriptions while the portion for non-institutional investors subscribed 9.71 times. The quota for Qualified Institutional Buyers (QIBs) fetched 37 per cent subscriptions.

The initial public offer (IPO) has a fresh issue of up to Rs 173 crore and an offer-for-sale component of up to 87,00,000 equity shares.

The IPO has a price range of Rs 270-288 a share.

RK Swamy on Friday said it has collected Rs 187 crore from anchor investors.

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.

RK Swamy is the largest Indian majority-owned integrated marketing services provider in India, offering a single-window solution for creative, media, data analytics, and market research services.

SBI Capital Markets, IIFL Securities and Motilal Oswal Investment Advisors are the managers of the offer.

Info@BestMediaInfo.com