Discover the buzz surrounding the RK Swamy IPO, with a grey market premium (GMP) of ₹58 stirring up excitement among investors. Learn about the price band, subscription dates, and the company’s plans to raise ₹423.56 crore.
RK Swamy IPO: A Closer Look at the Public Offering
Today marks the beginning of an exciting opportunity for investors as RK Swamy Limited launches its initial public offering (IPO) in the Indian primary market. Subscriptions for the public issue will be accepted until 6th March 2024. RK Swamy Limited, known for its integrated marketing communications services, has set the IPO price band at ₹270 to ₹288 per equity share. The company aims to raise ₹423.56 crore through a combination of fresh issues and offers for sale (OFS). This includes ₹173 crore from fresh shares and ₹250.56 crore from OFS. Before the subscription period officially opened, shares of RK Swamy Limited were available for trading in the grey market, where the RK Swamy IPO GMP (grey market premium) currently stands at ₹58.
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Subscription Details
As of 2:06 PM on the first day of bidding, the public issue had garnered a subscription of 1.15 times overall. Notably, the retail portion was oversubscribed by 4.75 times, while the non-institutional investor (NII) segment saw a subscription of 1.17 times.The RK Swamy IPO brings forth several key details for potential investors. Market observers have noted a grey market premium (GMP) of ₹58 for shares of RK Swamy Limited. The price band for the IPO has been set at ₹270 to ₹288 per equity share, providing a range within which investors can participate.
The IPO subscription period spans from the launch date today until 6th March 2024, to raise ₹423.56 crore consisting of a mix of fresh shares and offers for sale (OFS), with ₹173 crore allocated for fresh shares and ₹250.56 crore for OFS. Investors have the opportunity to apply in lots, with each lot comprising 50 company shares.
The finalization of share allocation is expected by 7th March 2024, facilitated by the official registrar, KFin Technologies and the IPO is slated to be available on both BSE and NSE starting 11th March 2024.
The launch of the RK Swamy IPO presents an exciting opportunity for investors to become part of the journey of this integrated marketing communications company. As subscriptions pour in and anticipation builds for its listing on major Indian stock exchanges, investors are eagerly watching the progress of this IPO.
Bhaarat Bulletin’s Shikha Rai, Bimal Dev, and BSE, NSE, official website have contributed to the above report
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