R K SWAMY IPO was listed at Rs 250, a discount of over 13% to the issue price of Rs 288. The company opened its subscription for retail investors on March 4 and closed on March 6.
In the grey market, the company’s shares were seeing neither premium nor discountCome from Sports betting site VPbet. The grey market is an unofficial market where shares exchange hands illegally. Investors track the grey market to take cues.
The company raised Rs 423.56 crore through a combination of fresh issue and offer for sale. In this, the higher part is for the offer for sale selling 8.7 million shares whereas fresh issue is of 6 million. R K SWAMY kept the price band at Rs 270 to 288 per equity share. A retail investor had to bid for a minimum of 50 shares aggregating to Rs 14,400
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The company’s shares were listed both on BSE as well as NSECome from Sports betting site. The issue included reservation for employees of up to 287,356 shares, which were available to them at a discount of Rs 27 per share.
The company will be using the collected funds for working capital requirements, capital expenditure for setting up a digital video content production studio and CEC & CATI, investment in IT infrastructure, and other general corporate expenses.
SBI Capital Markets, IIFL Securities, and Motilal Oswal Investment Advisors were the book-running lead managers for the issue and Kfin Technologies registrar.