RK Swamy IPO subscribed 25.78 times on final day

The initial public offer of integrated marketing services firm R K Swamy got subscribed 25.78 times on the last day of subscription on Wednesday.

The Rs 423.56 crore-IPO received bids for 21,22,37,750 shares against 82,32,946 shares on offer, as per NSE data.

The portion for non-institutional investors received 34.24 times subscription while the category for Retail Individual Investors (RIIs) got subscribed 33.31 times. The Qualified Institutional Buyers (QIBs) part got 20.58 times subscription.

The Initial Public Offer (IPO) had a fresh issue of up to Rs 173 crore and an offer for sale component of up to 87,00,000 equity shares.

The company's IPO had 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 were the managers to the the offer.

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