RK Swami stock makes weak debut in stock market

Mumbai Shares of integrated marketing services firm RK Swamy made a weak debut on the stock market on Tuesday with a discount of 13 per cent against the issue price of Rs 288. The stock started trading at Rs 250 on the NSE, up 13.19 from the issue price of Rs 288. The company’s shares opened at Rs 252, down 12.5 per cent over the issue price, on the BSE. In early trade, the company achieved a market valuation of Rs 1,420.93 crore on the exchange. In the morning session, the 30-share The BSE Sensex benchmark jumped 367.10 points to 73,869.74, while the NSE Nifty gained 76.05 points to 22,408.70.

RK Swamy’s Rs 423.56 crore initial public offering (IPO) on March 6 was subscribed 25.78 times on the last day of subscription. The funds raised through the fresh issue will be used to set up digital video content production studios, new customer experience centers and computer -The assistance will be used to set up telephonic interview centers as well as for general corporate purposes. Additionally, the funds will be used to invest in the development of IT infrastructure of RK Swamy Limited and its subsidiaries Hansa Research and Hansa Customer Equity RK Swamy Limited is the largest Indian majority-owned integrated marketing services provider in India, providing single-window solutions for creative, media, data analytics and market research services.