RK Swamy IPO listing tomorrow: Here’s what latest GMP signal ahead of listing
Overall, the issue received a positive response from investors. RK Swamy IPO subscription status was 25.94 times, as per BSE data. The retail portion has been subscribed to 34.03 times, Non Institutional Investors (NIIs) has been booked 34.36 times; Qualified Institutional Buyers (QIB) have been booked 20.58 times. The employee portion has been subscribed to 2.52 times.
Also Read: RK Swamy IPO: GMP, allotment date, how to check allotment status online?
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It reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer for retail investors. The employee portion was reserved equity shares, aggregating up to ₹7.50 crore. The employee discount came in at ₹27 per share.
The integrated marketing services provider, RK Swamy IPO, opened for subscription on Monday, March 4, and closed on Wednesday, March 6. The price band was fixed in the range of ₹270 to ₹288 per equity share of the face value of ₹5. The lot size was 50 equity shares and in multiples of 50 equity shares thereafter.
Experts in the market indicate that a flat listing is expected given the upbeat mood of the market and reasonable demand for subscriptions from all investor groups on the last day of the IPO process.
Furthermore, experts believe RK Swamy would get more momentum after listing as it would be the first of its sort and a clear attempt to become the first listed one-stop marketing solutions firm without having to compare itself to other peers.
However, let’s check what does RK Swamy IPO GMP price today signal ahead of listing.
RK Swamy IPO GMP today or RK Swamy IPO grey market premium was ₹0, which meant shares were trading at their issue price of ₹288 with no premium or discount in the grey market according to, according to investorgain.com. This has been the trend in the last three sessions.
Based on last 67 sessions grey market activities, the current GMP ( ₹0) is showing signals towards the lower side. The lowest GMP is ₹-5, while the highest GMP is ₹90.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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RK Swamy IPO details
RK Swamy IPO comprises a fresh issue of ₹173 crore, and an offer-for-sale (OFS) of up to 8,700,000 equity shares of face value of ₹5 each by the promoters and other investors.
The selling shareholders are Srinivasan K Swamy (will offload 1,788,093 equity shares), Narasimhan Krishnaswamy (will offload 1,788,093 equity shares), Evanston Pioneer Fund L.P. (will offload 4,445,714 equity shares), and Prem Marketing Ventures LLP (will offload 678,100 equity shares).
The net proceeds of the fresh issue are expected to be used for the following: financing the company’s working capital needs; financing capital expenditures that the company will incur to establish a digital video content production studio; financing investments in the development of the company’s IT infrastructure and that of its Material Subsidiaries, Hansa Research and Hansa Customer Equity; financing the establishment of new customer experience centres and computer-aided telephone interview centres; and financing general corporate purposes.
The book running lead managers of the RK Swamy IPO are SBI Capital Markets Limited, IIFL Securities Ltd, and Motilal Oswal Investment Advisors Limited. The issue’s registrar is Kfin Technologies Limited.
Also Read: IPOs this week: 8 new issues and 9 new listings to keep primary market busy
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Published: 11 Mar 2024, 12:02 PM IST
