MUMBAI - The Securities and Exchange Board of India (SEBI) has given the green light to RK Swamy Limited for its Initial Public Offering (IPO). The IPO comprises a fresh issue of ₹ 2,150 million and an offer for sale (OFS) of 8.7 million equity shares by major stakeholders, including Srinivasan K Swamy, Narasimhan Krishnaswamy, and Evanston Pioneer Fund L.P.
The company has outlined a strategic plan for the use of the capital to be raised from the IPO. The funds are earmarked for several key initiatives:
- Boosting working capital to support day-to-day operations.
- Establishing a state-of-the-art digital video content production studio.
- Enhancing the company's IT infrastructure to keep pace with technological advancements.
- Developing new customer experience centres to improve service delivery.
Additionally, a portion of the proceeds will go towards bolstering the company's subsidiaries, Hansa Research and Hansa Customer Equity, which are integral parts of RK Swamy Limited's business ecosystem.
SBI Capital Markets, IIFL Securities, and Motilal Oswal Investment Advisors have been appointed as the book managers for the IPO, ensuring a structured and well-managed process for the public offering.
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