RK SWAMY IPO opens for subscription: Check dates, price band, latest GMP

RK SWAMY IPO: Chennai-based integrated marketing communications and market research company, RK SWAMY Limited, has opened its Initial Public Offering (IPO) for subscription today, March 4, 2024. The IPO, a book-built issue, is set at Rs 423.56 crore, with a price band of Rs 270 to Rs 288 per share. The issue comprises a fresh issue of 0.6 crore shares and an offer for sale of 0.87 crore shares.

The IPO will remain open for subscription until March 6, 2024, with the allotment expected to be finalised by March 7, 2024. RK SWAMY IPO is scheduled to list on both BSE and NSE on March 12, 2024.

Retail investors can apply for a minimum lot size of 50 shares, requiring an investment of Rs 14,400. For non-institutional investors (NII), the minimum lot size is 14 lots (700 shares), amounting to Rs 201,600, and for bidders in the non-institutional category (bNII), it is 70 lots (3,500 shares), amounting to Rs 1,008,000.

The IPO also includes a reservation of up to 287,356 shares for employees, offered at a discount of Rs 27 to the issue price.

SBI Capital Markets Limited, IIFL Securities Ltd, and Motilal Oswal Investment Advisors Limited are the book-running lead managers of the IPO, with Kfin Technologies Limited acting as the registrar for the issue.

RK SWAMY Limited, founded in 1973, is known for its data-driven, integrated marketing services, customer data analysis, and full-service market research. The company has a diverse clientele, including Aditya Birla Sun Life AMC Limited, Dr. Reddy's Laboratories Limited, Havells India Limited, and Tata Play Limited, among others.

The IPO's net proceeds from the fresh issue will be utilised for various purposes, including funding working capital requirements, capital expenditure for setting up a digital video content production studio, and investment in IT infrastructure development.

As of March 4, 2024, the RK SWAMY IPO's Grey Market Premium (GMP) is Rs 90, suggesting an estimated listing price of Rs 378 which is a premium of 31.25 per cent.