New Delhi: Integrated marketing services firm RK Swamy Ltd is set to float its initial public offering on March 4. The initial share sale will conclude on March 6 and the bidding for anchor investors will open for a day on March 1, according to the Red Herring Prospectus (RHP).
The company's proposed Initial Public Offering (IPO) comprises a fresh issue of shares aggregating up to Rs173 crore and an Offer For Sale (OFS) of up to 87 lakh equity shares by selling shareholders, according to the Draft Red Herring Prospectus (DRHP).
Those offering shares in the OFS are Srinivasan K Swamy, Narasimhan Krishnaswamy, Evanston Pioneer Fund L.P, and Prem Marketing Ventures LLP. RK Swamy Ltd. Funds raised through the fresh issue would be used for setting up a digital video content production studio, establishing new customer experience centres and computer-aided telephonic interview centres as well as for general corporate purposes.
Also, funds would be utilised for investment in the IT infrastructure development of RK Swamy Ltd and its subsidiaries Hansa Research and Hansa Customer Equity. RK Swamy Ltd is the largest Indian majority-owned integrated marketing services provider in India, offering a single-window solution for creative, media, data analytics, and market research services. During fiscal 2023, one of India's pioneering advertising agencies RK Swamy released over 818 creative campaigns on behalf of clients across various media outlets, handled over 97.69 terabytes of data, and conducted over 2.37 million consumer interviews across quantitative, qualitative, and telephonic surveys.
