Ahead Of IPO, RK Swamy Mobilises Rs 187 Crore From Anchor Investors

The issue, with a price band of Rs 270-288 per share, will be open for public subscription during March 4-6.

<div class="paragraphs"><p>IPO. (Image source: on Freepik)</p></div>
IPO. (Image source: on Freepik)

Integrated marketing services firm RK Swamy Ltd. on Friday said it has collected Rs 187 crore from anchor investors, days before its Initial Public Offering.

The company has allotted 65 lakh equity shares to 18 funds at Rs 288 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website.

Goldman Sachs (Singapore) Pte Ltd, Citigroup Global Markets Mauritius, Societe Generale, SBI General Insurance Company, Bajaj Allianz Life Insurance Company, LIC Mutual Fund and JM Financial Mutual Fund are among the anchor investors.

The Rs 423.56 crore IPO comprises a fresh issue of shares worth up to Rs 173 crore and an Offer For Sale component of up to 87 lakh equity shares worth Rs 250.56 crore at the upper end of the price band.

Those offering shares in the OFS are Srinivasan K Swamy, Narasimhan Krishnaswamy, Evanston Pioneer Fund LP and Prem Marketing Ventures LLP.

The issue, with a price band of Rs 270-288 per share, will be open for public subscription during March 4-6.

Funds raised through the fresh issue would be used for setting up a digital video content production studio, establishing new customer experience centres and computer-aided telephonic interview centres as well as for general corporate purposes.

Also, funds would be utilised for investment in the IT infrastructure development of RK Swamy Ltd and its subsidiaries Hansa Research and Hansa Customer Equity.

The company said that investors can bid for a minimum of 50 equity shares and in multiples of 50 equity shares thereafter.

RK Swamy Ltd is the largest Indian majority-owned integrated marketing services provider in India, offering a single-window solution for creative, media, data analytics, and market research services.

During fiscal 2023, one of India's pioneering advertising agencies RK Swamy released over 818 creative campaigns on behalf of clients across various media outlets, handled over 97.69 terabytes of data, and conducted over 2.37 million consumer interviews across quantitative, qualitative, and telephonic surveys.

SBI Capital Markets, IIFL Securities, and Motilal Oswal Investment Advisors are the book-running lead managers to the issue.