Mumbai Prime News
Breaking newsGeneralPublic Interest

RK Swamy Limited, the largest Indian majority owned integrated marketing services provider, offering a single-window solution for creative, media, data analytics and market research services has received the Securities and Exchange Board of India (SEBI) approval for its proposed initial public offering (IPO).

The Company’s initial public offering comprises a fresh issue of aggregating up to ₹ 2,150 million and an offer for sale of up to 8,700,000 Equity Shares by selling shareholders. The offer for sale comprises up to 1,788,093 Equity Shares by Srinivasan K Swamy, Up to 1,788,093 Equity Shares by Narasimhan Krishnaswamy, Up to 4,445,714 Equity Shares by Evanston Pioneer Fund L.P. and Up to 678,100 Equity Shares by Prem Marketing Ventures LLP.

The funds raised through the IPO are proposed to be utilized for the funding of working capital, the funding of capital expenditure to be incurred for setting up a digital video content production studio, the funding of investment in IT infrastructure development of RK Swamy Limited, and the Material Subsidiaries, Hansa Research and Hansa Customer Equity, the funding of the setup of a new customer experience centres and computer aided telephonic interview centres as well as for general corporate purposes.

SBI Capital Markets Limited, IIFL Securities Limited and Motilal Oswal Investment Advisors Limited are the Book Running Lead Managers to the issue.

Please find appended the link to access the processing status

https://www.sebi.gov.in/filings/processing-status/jan-2024/processing-status-issues_59558.html

 

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