RK Swamy IPO debuts on stock exchanges, lists at ₹251 per share

RK Swamy Limited’s IPO made its stock market debut today, listing at ₹251 per share on both BSE and NSE. This marks a 13 per cent decline from its issue price of ₹288. The pre-listing grey market premium was around ₹0, indicating weaker-than-anticipated performance.

Shivani Nyati, Head of Wealth at Swastika Investmart Ltd., noted, “The muted pre-listing GMP and negative listing indicate a cautious investor approach, possibly due to volatile market conditions or concerns about competition and working capital requirements.”

• Also read: RK Swamy IPO closes today: Should you subscribe?

Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd., stated, “We expect a flat listing to its issue price of ₹288/- apiece. The flat listing is justified due to cyclicality risk and the company being the leading integrated marketing services group in India.”

Despite the cautious debut, RK Swamy shares were up 10.63 per cent to ₹278.80 at 10.44 am on the BSE from listing price but still a tad away from IPO price