RK Swamy files for IPO, first by an integrated marketing services group
The IPO comprises a fresh issue of aggregating up to Rs 215 crore 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.
RK Swamy Limited, the largest Indian majority-owned integrated marketing services provider offering a single-window solution for creative,a media, data analytics and market research services, has filed its draft red herring prospectus with market regulator SEBI. The initial public offering of the firm, which gained popularity as an ad agency, comprises a fresh issue of aggregating up to Rs 215 crore and an offer for sale of up to 8,700,000 equity shares by selling shareholders.
On April 6, 2023, Moneycontrol was the first to report the listing plans of RK Swamy. The report had added that the proposed IPO would be a combination of primary and secondary issuance of shares and would facilitate growth capital.
If the listing plans of the company fructify, it would be the first ever IPO in India by a major integrated marketing services group.
The company was established by the late founder RK Swamy (referred to as the 'Grand Old Man of Indian Advertising' by Sam Balsara) who started RK SWAMY Advertising Associates in Chennai in 1973.
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
