RK Swamy Ltd.'s shares had a lackluster launch on Dalal Street on Tuesday, as the firm was listed at Rs 250, a 13.19 percent discount to its NSE issue price of Rs 288 per share. Likewise, at Rs 252 above the same issue price, the shares began trading on the BSE at a 12.50 percent discount.
When RK Swamy's shares were first listed, investors were likely disappointed because they were not trading at a premium on the grey market. The stock was trading below its issue price by between Rs 5 to 10 per share. Nevertheless, there was a significant premium of Rs 40 over the issue's subscription period.
Between March 4 and March 6, RK Swamy sold 50 equity shares in its initial public offering (IPO) at a price between Rs 270 and Rs 288 per share. Through its primary offering, which comprised a new share sale of up to Rs 173 and an offer-for-sale (OFS) of up to 87,00,000 equity shares, the Chennai-based company raised Rs 423.56 crore.
Overall, there were 25.94 subscriptions to the issue. While the allotment for eligible institutional bidders was subscribed 20.58 times, the quota for non-institutional bidders was booked 34.36 times. At the conclusion of the three-day bidding procedure, the portion designated for retail investors had been subscribed 34.03 times, while the quota for employees had been bid on 2.52 times.
For almost fifty years, RK Swamy has been involved in the integrated marketing communications, full-service market research, customer data analysis, and syndicated studies industries. RK Swamy is a data-driven, integrated marketing services company that was founded in 1973 and makes use of digital efforts.
The book running lead managers of the RK Swamy IPO were IIFL Securities, SBI Capital Markets, and Motilal Oswal Investment Advisors; Kfin Technologies served as the issue's registrar.
