RK Swamy's IPO Oversubscribed, Closes March 6 with Strong Demand

5 Mar 2024 , 04:20 AM

RK Swamy’s IPO, after a successful first day, is nearly 4 times oversubscribed on the second day, closing on March 6. The IPO includes a fresh equity sale of 60 lakh shares and an offer for sale of 87 lakh shares. As of March 5, the IPO is oversubscribed by 1.81 times, with the retail category witnessing a subscription of 4.87 times.

Qualified Institutional Buyers (QIB) category subscribes 0.02 times, and Non-Institutional Investors (NII) category subscribes 7.30 times.

RK Swamy is a leading integrated marketing service group in India, offering creative, media, data analytics, and market research services. With over five decades of experience, the company has adapted to market trends and client needs, with a 15-year track record in data analytics and marketing technology.

In FY23, RK Swamy delivered 818 innovative campaigns, processed over 97.69 terabytes of data, and conducted 2.37 million consumer interviews. FY23 revenue stood at Rs 300 crore, with over 50% coming from digital content. It serves 400 clients annually, with the top 50% contributing 70% to the topline.

The top 50% of clients have an average association of over a decade, and the top 10% have an average relationship of 19 years. FY23 revenue from operations increased by 25% YoY to Rs 293 crore, and net profit surged by 62% to Rs 31 crore.

SBI Capital Markets, IIFL Capital Services, and Motilal Oswal Investment Advisors are the book running lead managers, with Kfin Technologies as the registrar for the IPO.

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