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Business News/ Markets / Ipo/  RK Swamy IPO to open on Monday: GMP, issue details, 10 key things to know before subscribing to 424 crore issue
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RK Swamy IPO to open on Monday: GMP, issue details, 10 key things to know before subscribing to ₹424 crore issue

RK Swamy, a prominent marketing service firm, kicks off its IPO on March 4, offering services in integrated marketing communications, data analytics, and market research. The IPO, with a price band of ₹270-288 per share, aims to raise capital for business expansion and development.

RK Swamy IPO date of subscription is scheduled for Monday, March 4, and will close on Wednesday, March 6. Premium
RK Swamy IPO date of subscription is scheduled for Monday, March 4, and will close on Wednesday, March 6.

RK Swamy IPO opens for subscription on Monday, March 4. RK Swamy is one of the top integrated marketing service organisations in India, providing a one-stop shop for media, creative, data analytics, and market research services, as mentioned in the red herring prospectus (RHP).

In the interrelated and complimentary business categories of integrated marketing communications, customer data analytics, and marketing technology, as well as full-service market research and syndicated studies, RK Swamy provides a wide range of services.

Also Read: RK Swamy IPO: Firm mobilises 187 crore from marquee investors in anchor round ahead of issue

The company's promoters are Narasimhan Krishnaswamy (Shekar Swamy) and Srinivasan K. Swamy (Sundar Swamy).

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With more than fifty years of experience, the company has been servingtop businesses including Aditya Birla Sun Life AMC Ltd, Cera Sanitaryware Ltd, Dr. Reddy’s Laboratories Ltd, E.I.D.–- Parry (India) Ltd, Fujitsu General (India) Private Ltd, Gemini Edibles and Fats India Ltd, Havells India Ltd, Hawkins Cookers Ltd, Himalaya Wellness Company, Hindustan Petroleum Corporation Ltd, ICICI Prudential Life Insurance Company Ltd, IFB Industries Ltd, Mahindra and Mahindra Ltd, Oil and Natural Gas Corporation Ltd, Royal Enfield, Shriram Finance Ltd, Tata Play Ltd, Ultratech Cement Ltd, and Union Bank of India.

Also Read: RK Swamy IPO: Price band set at 270-288 per share; check issue details, key dates, more

RK Swamy IPO details.
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RK Swamy IPO details.

As per the Red Herring Prospectus (RHP), the company's listed peers are Affle (India) Ltd (with a P/E of 66.74), Latent View Analytics Ltd (with a P/E of 63.70), and Vertoz Advertising Ltd (with a P/E of 78.07).

Between March 31, 2022, and March 31, 2023, R K Swamy's profit after tax (PAT) climbed by 62.34% and its revenue by 22.43%, respectively.

Here are the 10 key things to know about RK Swamy IPO:

RK Swamy IPO date: RK Swamy IPO will open on Monday, March 4, and will close on Wednesday, March 6.

RK Swamy IPO price band: 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: Investors can bid for a minimum of 50 equity shares and in multiples of 50 equity shares thereafter.

Anchor investors: R K Swamy IPO has raised 187 crores by allocating 65 lakh equity shares at 288 apiece, on Friday, March 1.

Also Read: RK Swamy gets SEBI approval to raise funds through IPO

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.

RK Swamy IPO objectives: 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.

RK Swamy IPO listing date and allotment details: Tentatively, RK Swamy IPO basis of allotment of shares will be finalised on Thursday, March 7, and the company will initiate refunds on Monday, March 11, while the shares will be credited to the demat account of allottees on the same day following refund. RK Swamy share price is likely to be listed on BSE and NSE on Tuesday, March 12.

Lead Manager and Registrar of RK Swamy IPO: 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.

RK Swamy IPO reservation: 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.

RK Swamy IPO GMP today: RK Swamy IPO GMP or grey market premium is +55. This indicates RK Swamy share price were trading at a premium of 55 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 343 apiece, which is 19.1% higher than the IPO price of 288.

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

Also Read: RK Swamy Ltd files DHRP with SEBI; first-ever IPO by integrated marketing firm

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: 02 Mar 2024, 09:57 AM IST
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