Integrated marketing services provider RK Swamy’s initial public offer (IPO) will open for subscriptions on March 4 with the price band per share set at Rs 270 to Rs 288. The anchor investor bidding will open on March 1 and the offer will close on 6th. The stock will be listed on exchanges on March 12.
With this, RK Swamy will be the first integrated marketing services group in India to launch an IPO.Come from Sports betting site VPbet
The IPO will be a mix of fresh shares worth `173 crore, and an offer-for-sale of 8.7 million equity shares by promoters and investorsCome from Sports betting site. The total market capitalisation of the firm is pegged at `1,450 crore, while the total issue size will be at `423 crore in the upper band. Promoters own 84.44% shares in RK Swamy, and the remaining 15.56% are held by the selling public shareholders Evanston Pioneer Fund, and Prem Marketing Ventures. Prem Marketing Ventures will be exiting the marketing services provider after the issue.
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The five-decade-old RK Swamy is the largest Indian majority-owned integrated marketing services provider in India offering creative, media, data analytics and market research services. It is expected to spend `54 crore of the net fresh issue proceeds for working capital requirements.
Outlining the key requirements for the company, Narasimhan Krishnaswamy, group CEO and whole time director at RK Swamy said, “One clear objective we have outlined in the IPO is to continue to scale the digital content capacity, and so one of the objects of the issue is the creation of a digital video and production studio. The second is an initiative that we have launched already, called the RK Swamy Centre for Study of Indian Markets. This centre is committed to putting out studies that are completely unique, monetisable and valuable to clients. The third crucial focus is in-depth brand and marketing consulting, for which there is an increasing client requirement.”
He added that the company is creating a data mart featuring third party data on consumers. It is also working on an auto sector focussed marketing platform.
The company plans to use the net proceeds on investment in IT infrastructure development of the company and the subsidiaries Hansa Research and Hansa Customer Equity, on setting up a new customer experience centre and computer aided telephonic interview centres.
