RK Swamy IPO listing date today. What GMP, experts say on share debut?

  • RK Swamy IPO GMP: The grey market is signaling that RK Swamy IPO listing price would be 288 apiece, say market observers

Asit Manohar
Updated12 Mar 2024, 07:28 AM IST
RK Swamy IPO listing date today: Shares of RK Swamy Limited will be listed on BSE and NSE and 'B' group of securities, BSE notice says.
RK Swamy IPO listing date today: Shares of RK Swamy Limited will be listed on BSE and NSE and ’B’ group of securities, BSE notice says.(https://www.rkswamy.com/)

RK Swamy IPO: The listing date for the initial public offering (IPO) of RK Swamy Limited has been fixed on 12th March 2024 i.e. today. As per the information available on the BSE website, RK Swamy shares will be listed on BSE and NSE in a special pre-open session during the Tuesday deals. RK Swamy share will become available for traders and investors from 10:00 AM today. Meanwhile, ahead of the RK Swamy IPO listing date, shares of the company are available at a premium of 25 in the grey market today, say experts.

"Trading Members of the Exchange are hereby informed that effective from Tuesday, March 12, 2024, the equity shares of R K Swamy Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities," the BSE notice says.

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According to stock market experts, RK Swamy IPO received a strong response from investors and the public issue but seasonality and volatility in the business model of the company and weakness on Dalal Street may spoil the party. They said that the RK Swamy IPO listing could be flat but positive. The stock market experts said that RK Swamy IPO listing may take place at a premium of up to 8 per share. So, RK Swamy IPO listing price could be in the range of 288 to 296 per share.

RK Swamy IPO listing price prediction

Speaking on RK Swamy IPO listing, Prashanth Tapse, Senior VP — Research at Mehta Equities said, “RK Swamy received decent subscription demand despite knowing the seasonality and volatility in the business model. The flat listing is justified due to cyclicality risk and the company being the leading integrated marketing services group in India, offering a single-window solution for creative, media, data analytics, and market research services for over five decades in the industry.”

Infographic: Courtesy mintgenie

Expecting a positive debut of RK Swamy shares, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360 said, "RK Swamy Limited is a leading integrated marketing service providing group in India. It serves a well-known clientele with enduring relationships and repeat business. During the reporting periods, the company's top and bottom lines showed growth. The issue looks pricey based on FY24 annualized earnings; however, the management mentioned that the second half generates the majority of revenues and significantly dilutes P/E."

Expecting RK Swamy IPO listing close to the upper price band of the public issue, Dhruv Mudaraddi, Research Analyst at StoxBox said, "With the R K Swamy IPO subscribing by about 26x, much lower than the recent issues, we expect a tepid listing for shares when it lists on the bourses on Tuesday. We anticipate shares to list close to the issue price of 288 per share."

Asked about the RK Swamy IPO listing price range, Arun Kejriwal, Founder of Kejriwal Research and Investment Services said, "The issue received strong responses from investors but the secondary market mood may spoil the listing party. However, I would suggest the lucky allottees wait till the stock settles post-listing and then only they take any call on whether they should exit or hold the scrip."

RK Swamy IPO GMP today

According to stock market observers, RK Swamy IPO GMP (grey market today) is zero, which means the grey market is expecting that RK Swamy IPO listing price would be at par with the upper price band of 288.

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 making any investment decisions.ls

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First Published:12 Mar 2024, 07:28 AM IST
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