RK Swamy IPO: RK Swamy has raised ₹187 crore from from marquee investors in anchor round on Friday, March 1, ahead of its IPO subscription opening for bidding. RK Swamy IPO opens for subscription on Monday, March 4, 2024 and closes on March 6, 2024. The RK Swamy IPO price band is set at ₹270 to ₹288 per share per equity share of the face value of ₹5 each.
The integrated marketing services provider said in a statement that it has raised ₹187 crore by allocating 65 Lakh equity shares at ₹288 per equity share (including share premium of ₹283 per equity share)
Out of the total allocation of 65 lakh equity shares to the anchor investors, 28 lakh equity shares, which is 43.82 per cent of the anchor investor portion were allocated to three mutual funds through a total of seven schemes.
The marquee investors include Nippon Life India Trustee, LIC Mutual Fund, Aditya Birla Sun Life Insurance, PineBridge Global Funds, Bajaj Allianz Life Insurance, JM Financial Mutual Fund, SBI General Life Insurance, GAM Multistock Emerging Markets Equity, Societe Generale, Vikasa India EIF I Fund, Citigroup Global Markets Mauritius Private Limited – ODI, Copthall Mauritius Investment Limited – ODI, Goldman Sachs Singapore PTE – ODI, BNP Paribas Financial Markets – ODI.
RK Swamy IPO details
RK SWAMY IPO is a book built issue of ₹423.56 crore. The issue is a combination of fresh issue of 0.6 crore shares aggregating to ₹173.00 crore and offer for sale (OFS) of 0.87 crore shares aggregating to ₹250.56 crore.
The floor price is 54 times the face value of the equity shares and the cap price is 57.60 times the face value of the equity shares. The price to earnings ratio based on diluted EPS for financial year 2023 for the company at the upper end of the price band is 40.96 times. The RK Swamy IPO lot size is 50 equity shares and in multiples of 50 equity shares thereafter.
RK Swamy IPO has reserved not less than 75 per cent of the shares in the public issue for qualified institutional buyers (QIB), not more than 15 per cent for non-institutional Institutional Investors (NII), and not more than 10 per cent of the offer is reserved for retail 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
-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
-Establishment of new customer experience centres and computer-aided telephone interview centres
-General corporate purposes.
The book running lead managers of the RK Swamy IPO are SBI Capital Markets Limited, IIFL Securities Ltd, and Motilal Oswal Investment Advisors Limited. The issue’s registrar is Kfin Technologies Limited.
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Published: 01 Mar 2024, 08:49 PM IST