Shares of the integrated marketing services company RK Swamy had an unimpressive start on the stock exchanges, opening with a 13% discount compared to the issue price of Rs 288.
The stock commenced trading at Rs 250 on the NSE, reflecting a 13.19% reduction from the issue price. On the BSE, the company’s scrip started at Rs 252, marking a 12.5% decline from the issue price.
During early trading, RK Swamy achieved a market valuation of Rs 1,420.93 crore on the exchange. On the final day of subscription, March 6, investors subscribed to the IPO, raising Rs 423.56 crore, 25.78 times.
RK Swamy Ltd and its subsidiaries, Hansa Research and Hansa Customer Equity will allocate the funds from the IPO for various purposes. These include enhancing customer experience and investing in IT infrastructure development.
RK Swamy Ltd stands as the largest Indian majority-owned integrated marketing services provider in India, delivering comprehensive solutions for creative, media, data analytics, and market research services, according to The Free Press Journal.
(Finance World and The Free Press Journal have published the article under a mutual content partnership arrangement.)
