BackBasilic Fly Studio IPO sees strong response, gets oversubscribed by 286.6 times
Basilic Fly Studio IPO subscribed 286.6 times; allotment date on September 8.
PremiumThe initial public offering (IPO) of Basilic Fly Studio Limited saw a strong subscription as the issue was subscribed 286.6 times with bids for 146 crore equity shares as against the issue size of 50.96 lakh shares. The IPO opened for subscribers on September 1 and closed on September 5, 2023, and the company aimed to raise ₹66.35 crore from this initial offer.
Data on NSE shows retail individual investors subscribed 84.5 crore shares of the company while qualified institutional buyers (QIBs) bought 13.53 crore shares of the company in the IPO out of which foreign institutional investors(FIIs) bought 4.99 crore shares of the company and domestic financial institutions bought 1.66 crore shares. The remaining shares (6.88) in the QIB segment were bought by 'others'.
Non-institutional investors bought 48.04 crore shares of the company.
As per media reports, Basilic Fly Studio IPO allotment date is September 8, 2023. Purva Sharegistry India Pvt Ltd has been appointed as the official registrar of the NSE SME IPO. Basilic Fly Studio IPO listing date is likely on September 13, 2023.
Chennai-based visual effects (VFX) studio operator intends to use the proceeds from the IPO for setting up a facility in Hyderabad and Salem, and add the infrastructure to existing facilities in Chennai and Pune. The company's subsidiaries are operating in Canada and the UK and the IPO proceeds will also be used for the expansion of workspace and strengthening the facilities in those places.
Basilic Fly Studio IPO was an SME IPO of 68.4 lakh equity shares with a face value of ₹10 aggregating up to ₹66.35 crores. The issue was priced at ₹92 to ₹97 per share. The minimum order quantity was 1,200 Shares.
Meanwhile, the grey market is signalling strong buzz in regard to Basilic Fly Studio IPO. According to topsharebrokers.com, Basilic Fly Studio IPO grey market premium (GMP) was ₹225 a few days ago, which is 231.6 per cent higher than Basilic Fly Studio IPO price band of ₹92 to ₹97 per equity share.
Disclaimer: The views and recommendations above are those of individual analysts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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