RK Swamy Ltd shares debuted at Dalal Street on Tuesday after its shares were listed at Rs 250, marking a discount of 13.19 percent compared to its issue price of Rs 288 apiece on the NSE. Similarly, the stock commenced its maiden trading session at BSE with a discount of 12.50 percent at Rs 252 over the same issue price.
Leading up to its listing, RK Swamy shares were not commanding any premium in the grey market, indicating investor disappointment at its debut. The stock was observed to be trading at a discount of Rs 5-10 per share on its issue price, despite enjoying a strong premium of Rs 40 during the subscription period.
RK Swamy conducted its IPO in the price band of Rs 270-288 per share with a lot size of 50 equity shares, between March 4 and March 6. The Chennai-based company successfully raised Rs 423.56 crore through its primary offering, comprising a fresh share sale of up to Rs 173 and an offer-for-sale (OFS) of up to 87,00,000 equity shares. The issue was oversubscribed 25.94 times, with the non-institutional bidders’ quota booked 34.36 times, qualified institutional bidders subscribed 20.58 times, and retail investors showing enthusiasm with a subscription rate of 34.03 times. Employees’ quota witnessed a bidding of 2.52 times by the end of the three-day bidding process.
About the company – Established in 1973, RK Swamy Ltd has been involved in integrated marketing communications, customer data analysis, full-service market research, and syndicated studies for over five decades. As a data-driven, integrated marketing services provider, the company leverages digital initiatives to serve its clients.
