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Today Date : Monday, May 27, 2024

R K Swamy Limited is set to launch its Initial Public offer on March 4, 2024

R K Swamy Limited is set to launch its Initial Public offer on March 4, 2024

R K Swamy Limited is set to open an Initial Public Offering (IPO) on March 4, 2024, offering up to Equity Shares of Face Value of ₹ 5 each for cash at a price band of ₹ 270 to ₹ 288 per Equity Share. Bids can be made for a minimum of 50 Equity Shares and in multiples of 50 Equity Shares thereafter. The Anchor Investor Bidding Date is Friday, March 1, 2024. The Bid/Offer will open on Monday, March 4, 2024 for subscription and close on Wednesday, March 6, 2024.

The Offer comprises a Fresh Issue of Equity Shares aggregating up to ₹ 1,730 million and an Offer For Sale of up to 8,700,000 Equity Shares. The net proceeds from the Fresh Issue will be used to fund working capital requirements, capital expenditure for setting up a digital video content production studio, IT infrastructure development, and funding for new customer experience centers and computer-aided telephonic interview centres.

The Offer includes a reservation of Equity Shares, aggregating up to ₹ 75 million for subscription by Eligible Employees. The Company has offered a discount of ₹ 27 per equity share on the Offer Price to eligible Employees bidding in the Employee Reservation Portion.

All bidders, except Anchor Investors, must participate in the Offer through the Application Supported by Blocked Amount (ASBA) process and provide details of their respective bank account. Equity shares will be allocated proportionately to eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received at or above the Offer Price.