MUMBAI: Things should be cooling off as the New Year approaches with folks winding down their assignments, getting ready to take some time off, right?

But that was not the case with the promoters of  India’s only BSE and NSE-listed marketing services provider  R K Swamy.

The promoters were busy consolidating their holding in the agency.  Through an off market transaction, they bought 3.56 per cent holding that US investment fund  Evanston Pioneer Fund LP   had invested in the group in 2018-19.  

Srinivasan K Swamy and Narasimhan K Swamy concluded the transaction on 27 December 2024 at the market price of Rs 249.64 per share.  

With this buy out, the promoter and promoter group hold 69.6 per cet of the equity paid up capital of the company. Following this, Evanston Pioneer Fund withdrew the nomination of  Pattabhi Kothandapani Raman  from the company’’s board in accordance with the shareholders agreement.

The company informed the stock exchange about the buyout on 30 December 2024 and about the change in the board on 31 December.