SEBI approves RK Swamy’s proposed IPO

The integrated marketing services provider filed for IPO in August 2023.

The Securities and Exchange Board of India (SEBI) has approved RK Swamy’s proposed Initial Public Offering (IPO).

An integrated marketing services provider, RK Swamy’s IPO comprises a fresh issue 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 utilised 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.

Adding to this, the funding of the setup of 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.