RK Swamy’s Rs.424-Cr IPO subscribed 26x

Business Line  

The INR 423.56-crore initial public offer of Chennai-based marketing services firm R K Swamy was subscribed 25.94 times, attracting bids for 21,35,31,650 shares against 82,32,946 shares on offer.The category for retail individual investors (RIIs) received 34.03 times subscriptions, while the portion for non-institutional investors/high networth individuals got subscribed 34.36 times. The quota for Qualified Institutional Buyers (QIBs) fetched 20.58 times the subscription. The employee portion was also booked 2.52 times. The IPO had a price band of INR 270-288 per equity share of the face value of INR 5.

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