RK Swamy's price band for IPO set between Rs 270 - Rs 288 a share
On the upper band price, the total size of the issue will be at Rs 423 crore and the total market capitalisation of RK Swamy Limited is at Rs 1,450 crore.
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Integrated marketing services company RK Swamy Limited has announced its price band today for the upcoming IPO, which will open for subscription on March 4.
The price band has been set at Rs 270 - Rs 288 a share, and the anchor investor bidding will open on March 1 and close on March 6. On March 7, allotments will take place, and on March 11, credit of shares to depository accounts will take place, highlighted in a Moneycontrol report.
On the upper band price, the total size of the issue will be at Rs 423 crore and the total market capitalisation of RK Swamy Limited is at Rs 1,450 crore.
The IPO will be a mix of fresh shares that are worth Rs 173 crore, and an offer-for-sale (OFS) of 87 lakh equity shares by promoters and investors, reported Moneycontrol.
In August 2023, RK Swamy Limited filed its draft red herring prospectus with market regulator SEBI. The initial public offering of the firm, comprises a fresh issue of aggregating up to Rs 215 crore and an offer for sale of up to 8,700,000 equity shares by selling shareholders.
In January 2024, The Securities and Exchange Board of India (SEBI) gave a green signal to RK Swamy’s proposed initial public offering (IPO), the nod of approval.
The funds raised through the IPO are proposed to be utilised for the funding of working capital, the funding of capital expenditure to be incurred for setting up a digital video content production studio, the funding of investment in IT infrastructure development of RK Swamy Limited, and the material subsidiaries, Hansa Research and Hansa Customer Equity, the funding of the setup of a new customer experience centres and computer aided telephonic interview centres as well as for general corporate purposes.
