NE BUSINESS BUREAU
AHMEDABAD, MAR 3
Chennai-based RK Swamy Ltd on Friday raised about ₹187 crore from 18 anchor investors ahead of its IPO, which opens on Monday, March 4 and closes on Wednesday, March 6.
The integrated marketing communications, customer data analysis and full-service market research company has allotted about 65 lakh shares to anchor investors at ₹288 a share.
“Three mutual funds have applied through a total of seven schemes,” RK Swamy said in its filing.
Some of the anchor investors include Nippon Life India Trustee (₹50 crore), Aditya Birla Sun Life Insurance (₹20 crore), Pinebridge Global Funds (₹15 crore), Bajaj Allianz Life Insurance (₹15 crore) and SBI General Insurance, Gam Multistock and Societe Generale (₹10 crore each). Also, seven mutual funds have applied through a total of 7 schemes.
The company’s IPO price band is fixed at ₹270-288 of face value of ₹5 each. On the upper band price, the total issue size will be at ₹423 crore.
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RK Swamy to float ₹423-cr IPO on Mar 4, sets price band at ₹270-288
The money raised from the IPO is expected to be used for funding for setting up a digital video content production studio, financing IT infrastructure development of the company and its subsidiaries, and funding the setting up of new customer experience centres, among others.