RK Swamy IPO Listing Today: Shares Debut; Lists with 13% discount, know the date of issue, GMP price

The shares opened weakly in the stock market, trading at Rs 250 and at a discount of 13.1% to the issue price of Rs 288.

The shares of RK Swamy were listed on BSE and NSE on March 12. The price band for the issue was fixed at Rs 270-288 per share.

However, the shares opened weakly in the stock market, trading at Rs 250, at a discount of 13.1% to the issue price of Rs 288. The shares failed to meet analyst estimates who had predicted the shares at Rs 300 -310, and a premium of about 5 percent.

Date of IPO of RK Swamy:

Shares of the company were available at a premium of ₹25 on the gray market. The BSE notice said: “Trading Members of the Exchange are hereby informed that with effect from Tuesday, March 12, 2024, the shares of RK Swamy Limited will be listed and admitted to trading on the Exchange in the list of ‘B’ Group of Effects.”

RK Swamy IPO prediction:

Market experts predicted that the IPO price could be between ₹288 and ₹296 per share. However, on March 12, the listing was at Rs 250, at a discount of 13.1% to the issue price of Rs 288.

RK Swamy IPO GMP today:

RK Swamy IPO GMP (Gray Market Today) was zero. That means the gray market expected the IPO price to be on par with the highest price of Rs. 288.

RK Swamy IPO details:

The ₹423.56 crore IPO was opened publicly for subscription on March 4 and for bids by anchor investors on March 1. The issue combined new shares worth ₹173 crore and an offer for sale of 87 lakh shares by promoters. as investors.

Allotment of shares in RK Swamy IPO

The allotment of shares was already completed on March 7 and credited on March 11.

RK Swamy IPO target

The company plans to use the funds generated from the issuance to finance working capital needs and capital expenditures. Some of the money will be used for general corporate purposes, the company said.

RK Swamy IPO Lead Managers and Registrar

SBI Capital Markets Limited, IIIfl Securities Ltd and Motilal Oswal Investment Advisors Limited were the lead managers of the IPO. While Kfin Technologies Limited is the registrar for the matter.