R K Swamy shares settle with 9 pc discount on debut trade

Shares of integrated marketing services firm R K Swamy made a disappointing market debut on Tuesday, closing 9 per cent lower on the exchanges against the issue price of Rs 288.The stock began the trade at Rs 250, a discount of 13.19 per cent over the issue price on the NSE.

Shares of integrated marketing services firm R K Swamy made a disappointing market debut on Tuesday, closing 9 per cent lower on the exchanges against the issue price of Rs 288.

The stock began the trade at Rs 250, a discount of 13.19 per cent over the issue price on the NSE. During the day, it hit a low of Rs 243 and later settled 8.79 per cent lower at Rs 261 apiece.

On the BSE, shares of R K Swamy were listed at Rs 252, lower by 12.5 per cent. It finally ended at Rs 263.25, down by 8.59 per cent.

At the end of the session, the company market's valuation stood at Rs 1,328.81 crore on the BSE.

In terms of volume, 1.08 crore equity shares were traded on the NSE, while 6.91 lakh shares exchanged hands on the BSE, during the day.

The 30-share BSE Sensex climbed 165.32 points or 0.22 per cent at 73,667.96, while NSE Nifty ended almost flat at 22,335.70, inching up 3.05 points.

On March 6, the Rs 423.56 crore-Initial Public Offering (IPO) of RK Swamy got subscribed 25.78 times on the last day of subscription.

The IPO had a price range of Rs 270-288 a share.

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.