RK Swamy files DHRP with SEBI; first-ever IPO by integrated marketing firm

Integrated marketing services firm RK Swamy Ltd has filed draft papers with capital markets regulator Sebi to mobilize funds through an initial public offering (IPO).

The company's IPO comprises a fresh issue of shares aggregating up to Rs 215 crore and an offer for sale (OFS) of up to 87 lakh equity shares by selling shareholders, according to the draft red herring prospectus (DRHP).

Those offering shares in the OFS are -- Srinivasan K Swamy, Narasimhan Krishnaswamy, Evanston Pioneer Fund LP, and Prem Marketing Ventures LLP.

The funds raised through the fresh issue would be used for setting up a digital video content production studio, establishing new customer experience centres and computer-aided telephonic interview centres as well as for general corporate purposes.

Also, the funds would be utilized for investment in the IT infrastructure development of RK Swamy Ltd, and its subsidiaries, Hansa Research and Hansa Customer Equity.

RK Swamy Ltd is the largest Indian majority-owned integrated marketing services provider in India, offering a single-window solution for creative, media, data analytics, and market research services.

During fiscal 2023, RK Swamy released over 818 creative campaigns on behalf of clients across various media outlets, handled over 97.69 terabytes of data and conducted over 2.37 million consumer interviews across quantitative, qualitative, and telephonic surveys.

SBI Capital Markets, IIFL Securities, and Motilal Oswal Investment Advisors are the book-running lead managers to the issue.