Baweja Studios IPO: Price band set at ₹170-180; key dates, lot size and other details

Baweja Studios IPO price band: The Baweja Studios Limited IPO price band has been fixed in the range of ₹170 to ₹180 per equity share of a face value of ₹10. The Baweja Studios IPO will open for subscription on Monday, January 29, and will close on Thursday, February 1. The allocation to anchor investors for the IPO is scheduled to take place on Thursday, January 25.

The floor price is 17 times the face value of the equity shares, and the cap price is 18 times the face value of the equity shares. The price-to-earnings ratio based on diluted EPS for the fiscal 2023 at the floor price is 21.71 times and at the cap price is 22.99 times. The issue lot size is 800 equity shares and in multiples of 800 equity shares thereafter.

The IPO has reserved not more than 50 per cent of the shares in the public issue for qualified institutional buyers (QIB), not less than 15 per cent for non-institutional Institutional Investors (NII), and not less than 35 per cent of the offer is reserved for retail investors.

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Tentatively, Baweja Studio IPO basis of allotment of shares will be finalised on Friday, February 2 and the company will initiate refunds on Monday, February 5, while the shares will be credited to the demat account of allottees on the same day following the refund. The stock is likely to be listed on BSE and NSE on Tuesday, February 6.

The promoters of the company are Harjaspal Singh Baweja, Paramjit Harjaspal Baweja, Harman Baweja, and Rowena Baweja.

Incorporated on March 16, 2001, Baweja Studios Limited is a production company, producing Hindi and Panjabi films such as Chaar Sahibzaade, Love Story 2050, Qayamat, and Bhaukaal. Also, the company is in the business of trading movie rights. They purchase rights from producers and sell them to exhibitors and streaming platforms.

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By June 2023, the company has completed 22 projects, with 6 films in production and 7 in pre-production.

Baweja Studios is a content production house that focuses on creating technology-based commercial films. The goal of the company is to push the boundaries of storytelling and incorporate technological advancements in its field. As part of their business process, they research and develop scripts, produce content end-to-end, create intellectual property, and monetise rights.

Baweja Studios Limited's revenue increased by 86.2 percent and profit after tax (PAT) rose by 188.8 per cent between the financial year ending with March 31, 2022, and March 31, 2023.

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Baweja Studios IPO details

The ₹97.20 crore IPO is a combination of a fresh issue of 40 lakh shares aggregating to ₹72.00 crore and an offer for sale of 14 lakh shares aggregating to ₹25.20 crore.

The company proposes to utilise the net proceeds from the offer towards working capital requirements and for general corporate purposes.

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Fedex Securities Pvt Ltd is the book-running lead manager of the Baweja Studios IPO, while Skyline Financial Services Private Ltd is the registrar for the issue.