The Integrated Marketing Communications company rk Swamy's Initial Public Offering (IPO) has garnered an impressive response from the market, being fully subscribed shortly after opening on Monday. The IPO, valued at Rs 423.56 crore, also received favourable attention in the grey market, trading at a premium of Rs 58. The subscription period for rk Swamy's IPO is set to close on march 6, with a price band of Rs 270 to 288.

Prior to the IPO opening, the company successfully secured Rs 187.22 crore from anchor investors during the offering on march 1. The IPO comprises a combination of a fresh issue and an offer for sale (OFS). The selling stakeholders in the OFS include Srinivas, Narasimhan Krishnaswamy, Evanston Pioneer Fund, and prem Marketing Venture. The company aims to raise Rs 173 crore through the fresh issue and Rs 250.56 crore through OFS.

 As of 2 pm, the public issue was oversubscribed 1.15 times, with the retail portion oversubscribed 4.75 times and the NII segment 1.17 times. The employee reserved portion has seen a subscription rate of 16 percent. Investors interested in the IPO need to purchase a lot of a minimum of 50 shares, requiring an investment of at least Rs 13,500. rk Swamy specializes in providing integrated marketing services with a focus on wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital services.

 Notably, the company has not sought external investments in the last 50 years and is making its first attempt to raise funds from the market. The merchant bankers for this IPO include sbi Capital Markets, IIFL Securities, and Motilal oswal Investment Advisory. rk Swamy, operating in the marketing services sector for nearly five decades, offers comprehensive solutions for media, data analytics, and market research services. 

In the fiscal year 2023, the company executed over 818 creative campaigns across various media outlets for its clients. The company, with 2,391 employees across 12 cities, serves major clients such as Aditya Birla sun Life AMC Limited, Cera Sanitaryware Limited, Dr. Reddy's Laboratories Limited, and EID.