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Business News/ Markets / Ipo/  RK Swamy IPO: Issue booked 6.01 times on Day 2 with retail support; check GMP, other details
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RK Swamy IPO: Issue booked 6.01 times on Day 2 with retail support; check GMP, other details

R K Swamy is a data-driven integrated marketing services provider heavily relying on digital efforts. The IPO reserved 75% for QIBs, 15% for NIIs, and 10% for retail investors with an employee portion reserved at ₹7.50 crores.

RK Swamy IPO has opened for subscription on Monday, March 4, and will close on Wednesday, March 6. (Photo: Courtesy company website)Premium
RK Swamy IPO has opened for subscription on Monday, March 4, and will close on Wednesday, March 6. (Photo: Courtesy company website)

RK Swamy IPO subscription status: The issue continues to receive heavy interest from its retail portion on the second day. RK Swamy IPO subscription status on day was 6.01 times, as per BSE data. The retail portion has been subscribed 18.31 times, Non Institutional Investors has been booked 9.71 times, Qualified Institutional Buyers (QIB) portion is booked 37%. The employee portion has been subscribed 1.43 times. 

Also Read: RK Swamy IPO Day 2: Check GMP, subscription status, review, key dates, more. Should you subscribe or not?

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The RK Swamy IPO got off to an impressive start on its first day of opening, with its retail portion being fully subscribed within the first hour of opening. The overall, RK Swamy IPO subscription status was 2.19 times, as per BSE data. RK Swamy IPO retail investors portion was subscribed 7.87 times, Non Institutional Investors (NII) portion was booked 2.97 times, and Qualified Institutional Buyers (QIB) portion was booked 1%. The employee portion was subscribed 58%.

RK Swamy IPO has opened for subscription on Monday, March 4, and will close on Wednesday, March 6. The price band has been fixed in the range of 270 to 288 per equity share of the face value of 5. RK Swamy IPO lot size is 50 equity shares and in multiples of 50 equity shares thereafter.

RK Swamy IPO details.
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RK Swamy IPO details.

R K Swamy is an integrated marketing services provider that is data-driven and heavily relies on digital efforts for all aspects of its operations.

RK Swamy IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employee portion has been reserved equity shares aggregating up to 7.50 crores. The employee discount comes in at 27 per share.

Also Read: RK Swamy IPO: Issue subscribed 2.19 times on day 1 led by retail investors; check GMP

RK Swamy IPO subscription status

RK Swamy IPO has received bids for 4,95,17,450 shares against 82,32,946 shares on offer, according to data from the BSE.

The retail investors' portion received bids for 2,64,57,150 shares against 14,44,652 shares on offer for this segment.

The non-institutional investors' portion received bids for 2,10,46,950 shares against 21,66,979 on offer for this segment.

The QIBs portion have received 16,02,150 shares against 43,33,959 shares on offer for this segment.

The employee portion have received 4,11,200 shares against 2,87,356 shares on offer for this segment.

Also Read: RK Swamy IPO fully subscribed: GMP, review, subscription status, price, date, other details. Apply or not?

RK Swamy IPO details

RK Swamy IPO comprises a fresh issue of 173 crore, and an offer-for-sale (OFS) of up to 8,700,000 equity shares of face value of 5 each by the promoters and other investors.

The selling shareholders are Srinivasan K Swamy (will offload 1,788,093 equity shares), Narasimhan Krishnaswamy (will offload 1,788,093 equity shares), Evanston Pioneer Fund L.P. (will offload 4,445,714 equity shares), and Prem Marketing Ventures LLP (will offload 678,100 equity shares).

The net proceeds of the fresh issue are expected to be used for the following: financing the company's working capital needs; financing capital expenditures that the company will incur to establish a digital video content production studio; financing investments in the development of the company's IT infrastructure and that of its Material Subsidiaries, Hansa Research and Hansa Customer Equity; financing the establishment of new customer experience centres and computer-aided telephone interview centres; and financing general corporate purposes.

The book running lead managers of the R K SWAMY IPO are SBI Capital Markets Limited, Iifl Securities Ltd, and Motilal Oswal Investment Advisors Limited. The issue's registrar is Kfin Technologies Limited.

Also Read: RK Swamy IPO: Here are 10 key risks from the RHP you should know before subscribing

RK Swamy IPO GMP today

RK Swamy IPO GMP or grey market premium is +78. This indicates RK Swamy share price were trading at a premium of 78 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of RK Swamy share price was indicated at 366 apiece, which is 27.08% higher than the IPO price of 288.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Published: 05 Mar 2024, 01:48 PM IST
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