RK Swamy IPO subscribed 26 times on retail & HNI support
The initial public offer of Chennai-based integrated marketing services firm R K Swamy has received an overwhelming response from investors. Till 7 pm on the final day (Wednesday, March 6) of bidding, the ₹423.56-crore IPO received 25.94 times subscription securing 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 opened for subscription on Monday (March 4) and closed on March 6. The price band was fixed in the range of ₹270-288 per equity share of the face value of ₹5.
The IPO lot size is 50 equity shares and in multiples of 50 equity shares thereafter.