RK Swamy IPO fully subscribed on Day 1 on heavy retail bidding
RK Swamy sailed through on the first day of the bidding process. The issue, which closes on March 6, was booked 1.01 times so far, led by strong interest from retail and non-institutional investors. The retail portion of the IPO was subscribed 4.1 times, followed by NIIs at 1.02 times.
The IPO comprises fresh equity sale of 60 lakh shares and an offer for sale of 87 lakh shares.
RK Swamy IPO GMP
In the unlisted market, the company's shares are trading with a GMP of Rs 50. This compares with an upper price band of Rs 288 per share.
At the upper end, the company plans to raise Rs 423 crore and issue is valued at a P/E ratio of 46.5 of its FY23 earnings.
RK Swamy IPO review
Analysts advised investors to subscribe to the issue as the company has demonstrated a proven capability to generate digital content at scale, establishing themselves as leaders in the field of market research.
RK Swamy IPO: Should you subscribe to this Rs 423-crore issue?
«We believe that the valuation of the company is fairly priced and recommend a Subscribe-Long Term rating to the IPO,» said Anand Rathi.
«While the IPO presents an opportunity for substantial returns, investors must be prepared for potential cyclical returns and a longer investment horizon. Based on the above positives, we give the issue a Subscribe rating,» said BP Wealth.
Other details
RK Swamy stands as a prominent integrated marketing service group in India, providing a comprehensive solution encompassing creative, media, data analytics, and market research services
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