Marketing services provider RK Swamy raised Rs 187.22 crore through its anchor book, which opened for a day on March 1, a day before the company’s IPO launch.
The Rs 424-crore initial public offering will open for subscription next week on March 4, with bidding closing on March 6.
The IPO committee allocated 65,00,937 equity shares to anchor investors at a price of Rs 288 per share.
Nippon Life India emerged as the largest institutional investor, investing Rs 50.03 crore, followed by Aditya Birla Sun Life Insurance Company with Rs 20 crore.
Other notable investors in the anchor book include Societe Generale, Citigroup Global Markets, Copthall Mauritius Investment, Goldman Sachs, BNP Paribas Financial Markets, LIC Mutual Fund, Pinebridge Global Funds, Bajaj Allianz Life Insurance Company, JM Financial Mutual Fund, and SBI General Insurance Company. “Three mutual funds applied through a total of seven schemes,” RK Swamy stated in its filing.
The company, offering a single-window solution for creative, media, data analytics, and market research services, aims to raise Rs 173 crore through a fresh issue and Rs 250.56 crore through an offer-for-sale (OFS) of 87 lakh equity shares. Promoters Srinivasan K Swamy and Narasimhan Krishnaswamy, along with investors Evanston Pioneer Fund LP and Prem Marketing Ventures LLP, will be the selling shareholders in the OFS. Prem Marketing Ventures LLP will exit the company post-issue.
RK Swamy, with over five decades of experience in integrated marketing communications services, plans to utilize Rs 54 crore of the net fresh issue proceeds for working capital requirements. Additionally, Rs 10.98 crore will be allocated for setting up a DVCP studio, Rs 33.34 crore for investment in IT infrastructure development, and Rs 21.74 crore for establishing new CEC and CATI.
The price band for the issue is set at Rs 270-288 per equity share, with a minimum bid of 50 shares and increments of 50 thereafter.
The public issue has reserved up to 75 percent for qualified institutional buyers, 10 percent for retail investors, and the remaining 15 percent for non-institutional investors. Additionally, Rs 7.5 crore equity shares have been reserved for employees at a discounted price of Rs 27 per share to the final issue price.
