Baweja Studios IPO Day 3: Issue subscribed 87% so far, retail portion fully booked; check GMP, key details of SME IPO
- Baweja Studios IPO GMP today, or grey market premium today, is ₹15 per share. This indicates that the Baweja Studios shares were trading at a premium of 8.33% at ₹195 apiece in the grey market, as compared to its issue price of ₹180 per share.
Baweja Studios IPO: The initial public offering (IPO) of Baweja Studios opened for public subscription on January 29. Baweja Studios IPO is an SME IPO which will close on February 1.
The public offer of the film production company has been fully subscribed in the retail category so far on the third day of the bidding process.
Let us check Baweja Studios IPO GMP today, subscription status and other key details.
Baweja Studios IPO Subscription Status
Baweja Studios IPO has been subscribed 87% so far on Wednesday, the third day of the bidding process, as the issue received bids for 41.61 lakh equity shares as against 47.85 lakh shares on the offer, as per data available till 12:45 pm.
The public issue has been subscribed 1.57 times in the retail category, 0.01 times in the Qualified Institutional Bidders' (QIB) category and 0.25 times in the Non-Institutional Investors’ (NII) so far.
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Baweja Studios IPO GMP Today
Baweja Studios IPO GMP today, or grey market premium today, is ₹15 per share. This indicates that the Baweja Studios shares were trading at a premium of 8.33% at ₹195 apiece in the grey market, as compared to its issue price of ₹180 per share.
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Baweja Studios IPO Details
Baweja Studios IPO commenced for subscription on January 29 and will conclude on February 1.
Baweja Studios IPO size is ₹97.20 crore which is a combination of fresh issue of 40 lakh equity shares aggregating to ₹72 crore and offer for sale (OFS) of 14 lakh shares aggregating to ₹25.20 crore. The IPO price band is set at ₹170 to ₹180 per share.
The IPO lot size is 800 shares and the minimum investment amount required by retail investors is ₹144,000.
The company has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Baweja Studios IPO allotment is expected to be finalized on Friday, February 2. Baweja Studios shares will be listed on NSE SME with a tentative listing date fixed on February 6.
Fedex Securities Pvt Ltd is the book running lead manager of the Baweja Studios IPO, while Skyline Financial Services Private Ltd is the IPO registrar.
The company proposes to utilize the net proceeds from the offer to meet the working capital requirements and general corporate purposes.
The promoters of Baweja Studios are Harjaspal Singh Baweja, Paramjit Harjaspal Baweja, Harman Baweja and Rowena Baweja.
Baweja Studios is a production company, producing Hindi and Punjabi films. The company is also in the business of trading movie rights.
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