CHENNAI: The price band for the R K Swamy initial public offer (IPO) is fixed at Rs 270 to Rs 288 per equity share of the face value of Rs 5. Bids can be made for a minimum of 50 equity shares and in multiples of 50 shares thereafter.
The offer will open for subscription on Monday (March 4, 2024) and close on Wednesday. The offer comprises a fresh issue of equity shares aggregating up to Rs 173 crore and an offer for sale component of up to 8,700,000 equity shares. Total issue size would be Rs 423 core on the upper price band.
Out of the net proceeds, Rs 54 crore will be used for funding working capital requirements of the company, Rs 11 crore will be used for setting up a digital video content production studio, the company said.
Further, Rs 33 crore will be utilised towards investment in IT infrastructure and material subsidiaries, Hansa Research Group and Hansa Customer Equity Private Limited, Rs 22 crore for setting up of new customer experience centers and computer aided telephonic interview centers of the company and another Rs 22 crore for general corporate purposes.
The offer Includes a reservation of shares for employees aggregating up to Rs 75 million for subscription and offers a discount of Rs 27 per equity share on the offer price.