Shares of R K Swamy were currently trading at Rs 281.75 at 10:16 IST on the BSE, representing a discount of 2.17% as compared with the issue price of Rs 288.
The scrip was listed at Rs 252, exhibiting a discount of 12.5% to the issue price.So far, the stock has hit a high of 284.50 and a low of 248. On the BSE, over 3.19 lakh shares of the company were traded in the counter so far.
The initial public offer (IPO) of R K Swamy was subscribed 25.94 times. The issue opened for bidding on 4 March 2024 and it closed on 6 March 2024. The price band of the IPO was fixed at Rs 270 to 288 per share.
The IPO comprised fresh issue of equity shares worth up to Rs 173 crore and offer for sale of 87,00,000 equity shares aggregating up to Rs 250.56 crore.
The objectives for the fresh issue includes Rs 54 crore for funding working capital requirement, Rs 10.9 crore for funding capital expenditure for setting up a DVCP Studio, Rs 33.34 crore for funding investment in IT infrastructure development, Rs 21.73 crore for seting up of new CEC and CATI and remaining amount for general corporate purposes.
The promoters of the company are Srinivasan K Swamy and Narasimhan Krishnaswamy. The promoters and promoter group held an aggregate of 36,915,820 equity shares aggregating to 83.03% of the pre-offer issued and paid-up equity share capital. Their post IPO shareholding is expected to be around 66.07%.
Founded in 1973, R K Swamy is an integrated marketing service group, offering a single-window solution for creative, media, data analytics and market research services. The company is ranked eighth in terms of estimated operating revenue among the integrated matketing communications services in India.
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The company offers comprehensive range of services in the following interrelated and complementary business segments: integrated marketing communications; customer data analytics and marketing technology; and full-service market research (including customer experience measurement) and syndicated studies.
The firm reported a net profit of Rs 7.93 crore and sales of Rs 141.10 crore for the six months ended on 30 September 2023.
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