RK Swamy Ltd on Friday raised about â¹187 crore from 18 anchor investors ahead of its initial public offering (IPO), which opens on March 4 and closes on March 6.
The Chennai-based company, which is engaged in the business of integrated marketing communications, customer data analysis and full-service market research, has allotted about 65 lakh shares to anchor investors at â¹288 a share.
Some of the anchor investors include Nippon Life India Trustee (â¹50 crore), Aditya Birla Sun Life Insurance (â¹20 crore), Pinebridge Global Funds (â¹15 crore), Bajaj Allianz Life Insurance (â¹15 crore) and SBI General Insurance, Gam Multistock and Societe Generale (â¹10 crore each). Also, seven mutual funds have applied through a total of 7 schemes.
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The companyâs IPO price band is fixed at â¹270-288 of face value of â¹5 each. On the upper band price, the total issue size will be at â¹423 crore.
The money raised from the IPO is expected to be used for funding for setting up a digital video content production studio, financing IT infrastructure development of the company and its subsidiaries, and funding the setting up of new customer experience centres, among others.
In FY23, the company clocked a revenue of â¹300 crore and a profit after tax of â¹31 crore.
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