RK Swami IPO price band fixed at ₹270-₹288 per ₹5 share
The Hindu
Integrated marketing services company R K Swamy Ltd. has set an Initial Public Offering (IPO) price band of ₹270 to ₹288 per equity share with a face value of ₹5 each.
Integrated marketing services company R K Swamy Ltd. has set an Initial Public Offering (IPO) price band of ₹270 to ₹288 per equity share with a face value of ₹5 each.
Bids can be made for a minimum of 50 equity shares and in multiples of 50 shares thereafter. The IPO will open Monday, March 4, 2024 for subscription and close on Wednesday, March 6, 2024.
The IPO comprises a fresh issue of equity shares aggregating up to ₹173 crore and an Offer for Sale of up to 8,700,000 equity shares by selling shareholders. At the upper price band, the size of the IPO is ₹423 crore.
The net proceeds from the fresh issue are proposed to be used for funding working capital requirements amounting to ₹54 crore, funding capital expenditure to be incurred for setting up a digital video content production studio ₹10.9 crore, funding investment in IT infrastructure development of the company and its material subsidiaries (Hansa Research Group Private Ltd. and Hansa Customer Equity Private Ltd.) ₹33.3 crore; and funding setting up of new customer experience centres and computer aided telephonic interview centres ₹21,7 crore and general corporate purposes.
“In the future we will grow in a different direction thanks for the investment we will be making in infrastructure. We are raising ₹173 crore and a portion of that will be invested in a digital studio. Since there is no rate card in digital, we can charge based on creativity and it will provide better margins. In the future there will be revenue top up. So the future direction would be better than what it is today,” said Srinivasan K Swamy, CMD, R K Swamy Ltd.
Commenting on the digital video content studio, Narasimhan Krishnaswamy, Group CEO and Whole Time Director, R K Swamy Ltd said, “It will help us produce post-production content faster and more efficiently that our clients are demanding.”
“The studio is a necessary infrastructure for us today. We can use outside service providers, but the reason why we are putting it internally is because our requirements have gone up substantially. Whatever we are doing is in the interest of quicker turnaround time and better quality. It will be set up in Mumbai,” he said.
India mandates oil and gas firms to share import and export data to mitigate consumer shortages amid rising global prices.
HDFC Bank's chairman Atanu Chakraborty resigns over ethical concerns; Keki Mistry appointed interim chairman for three months.
Stock markets continue to rise for the third day as Sensex and Nifty gain nearly 1%, fueled by IT stocks.
Indian-flagged vessels in the Strait of Hormuz carry 2 lakh MT LNG and 16.7 lakh MT crude, amidst geopolitical tensions.
Equity analysts downgrade earnings forecasts for oil marketing companies, citing rising costs and market pressures for fiscal 2027.
Plastic product prices may surge by 50-60% in April due to rising polymer costs amid ongoing geopolitical tensions.
Centre offers 10% more LPG to States that accelerate piped gas rollout amid ongoing supply challenges and increased consumer demand.
Indian-flagged vessels in the Strait of Hormuz carry 2 lakh MT LNG and 16.7 lakh MT crude, amidst geopolitical tensions.
Stock markets continue to rise for the third day as Sensex and Nifty gain nearly 1%, fueled by IT stocks.
Rising oil prices and LPG shortages are driving India's shift to electric cooking, offering cost-effective and energy-efficient alternatives.
The rupee fell to a record low of 92.63 against the dollar, while equities surged with Sensex up 633.29 points.
Alibaba is sharpening its artificial intelligence strategy by focusing on agents that connect the many businesses under its sprawling corporate umbrella.
India's semiconductor market is set to reach $300 billion by 2035, driven by local production and growing technology demands.