R K Swamy has stated that it proposes to open an IPO (Initial Public Offering) on 4 March 2024.
The company is offering equity shares of face value of INR 5 each (“Equity Shares”) for cash at a Price Band from INR 270 to INR 288 per equity share (including a share premium).
Bids can be made for a minimum of 50 equity shares and in multiples of 50 equity shares thereafter. The anchor investor bidding date shall be Friday, 1 March 2024. The bid/offer will open 4 March 2024 for subscription and close on Wednesday, March 6, 2024.
The Offer comprises a fresh issue of equity shares aggregating to INR 1,730 million and an offer for sale of up to 8,700,000 equity shares. This comprises to 1,788,093 equity shares by Srinivasan K Swamy; up to 1,788,093 equity shares by Narasimhan Krishnaswamy; up to 4,445,714 equity shares by Evanston Pioneer Fund and up to 6,78,100 Equity Shares By Prem Marketing Ventures.
The net proceeds from the fresh issue are proposed to be used as follows: Funding working capital requirements of the company INR 540.00 million; funding capital expenditure to be incurred by the company for setting up a digital video content production studio (“DVCP Studio”) INR 109.85 million; Funding investment in IT infrastructure development of the company, and material subsidiaries, Hansa Research Group (Hansa Research) and Hansa Customer Equity (Hansa Customer Equity) INR 333.42 million; and funding setting up of new customer experience centres (CEC) and computer aided telephonic interview centres (CATI) of the company INR 217.36 million; and general corporate purposes.
The offer Includes a reservation of equity shares, aggregating up to INR 75 million for subscription by eligible employees (the “employee reservation portion”).
The company has in consultation with the Book Running Lead Managers (“BRLMs”) offered a discount of INR 27 per equity share on the offer price to eligible employees bidding in the employee reservation portion (employee discount).
SBI Capital Markets, IIFL Securities and Motilal Oswal Investment Advisors are the Book Running Lead Managers (BRLMs) to the offer.
