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HomeNewsRK Swamy's weak debut: Share price opens with 13.2% discount at ...

RK Swamy’s weak debut: Share price opens with 13.2% discount at ₹250 apiece on NSE. Details here

Mar 12, 2024 10:33 AM IST

RK Swamy share price: On BSE, RK Swamy share price opened at ₹252 apiece. This is down 12.50% than the issue price. Details below

RK Swamy share price: It is a weak debut on the bourses for RK Swamy shares as it opened at 250 per share- 13.19% lower than the issue price of 288. On BSE, RK Swamy share price opened at 252 apiece. This is down 12.50% than the issue price. Earlier, it was predicted that RK Swamy shares were likely to list in the range of 288 to 296 per share.

RK Swamy share price: RK Swamy IPO had a weak debut at the bourses on March 12. Details below
RK Swamy share price: RK Swamy IPO had a weak debut at the bourses on March 12. Details below

Read more: RK Swamy IPO listing today: GMP prediction on share debut, issue details and more details on RK Swamy IPO

RK Swamy IPO subscription status: The IPO was subscribed 25.94 times on the last day of bidding, as per BSE data. The issue received interest from retail investors and non institutional investors and on the third day, the retail portion was subscribed to 34.03 times, non institutional investors (NII)34.36 times, Qualified Institutional Buyers (QIB) portion 20.58 times and employee portion 2.52 times.

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RK Swamy IPO details: The 423.56 crore public offer, which opened for subscription on March 4 and for anchor investor bidding on March 1, reserved not less than 75% of the shares in the public issue for QIB, not more than 15% for NII, and not more than 10% of the offer is reserved for retail investors. The price band for the issue was at 270-288 per share.

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The IPO closed on March 6 and was a combination of fresh shares worth 173 crore and an offer-for-sale of 87 lakh equity shares by promoters as well as investors.

RK Swamy allotment of shares was completed on March 7 and shares were credited on March 11. The company, through the IPO, aims to fund capital expenditure and working capital requirements as well as use it for general corporate purposes, it said.

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