Picture Post Studios IPO: SME IPO subscribed over 266 times on day 3, NIIs bid highest; Check latest GMP

Picture Post Studios IPO: The initial public offering (IPO) of the small and medium-sized enterprise (SME) Picture Post Studios Ltd. was subscribed over six times on the first day of its issue today. The SME IPO of the VFX studio major opened for subscription on Friday, August 2, 2024, and will close on Tuesday, August 6, 2024.

Picture Post Studios IPO offers 7,800,000 shares. The Mumbai-based company reserved 2,598,000 equity shares, or 33.31 per cent, for retail investors, 2,598,000 shares, or 14.31 per cent, for non-institutional investors (NIIs), and 2,598,000 shares, or 19 per cent, for qualified institutional buyers (QIBs) in the issue. 2,208,000 equity shares, or 28.31 per cent, are set aside for anchor investors.

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Picture Post Studios IPO Subscription Status

On Friday, Picture Post Studios was subscribed 266.60 times. The portion reserved for retail investors was subscribed 308.09 times, while the portion reserved for NIIs was booked the highest at 389.67 times. The QIB portion was subscribed 101.19 times on the last day. The SME IPO received 1,38,52,44,000 share applications against 5,196,000 shares offered on Tuesday.

Picture Post Studios IPO Details

Picture Post Studios IPO is a book-built issue of ₹18.72 crore, entirely a fresh issue of 78 lakh shares. It opened for subscription on Friday, August 2, 2024, and will close on Tuesday, August 6, 2024. 

The allotment for the Picture Post Studios IPO is expected to be finalized on August 7, 2024. The IPO will list on NSE SME, with a tentative listing date fixed as August 9, 2024. Investors can bid for a minimum of 6,000 shares or in multiples thereof.

Picture Post Studios IPO price band is set at ₹22 to ₹24 per share. The minimum lot size for an application is 6,000 shares. The minimum investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is two lots (12,000 shares) amounting to ₹288,000.

Shreni Shares Limited is the book-running lead manager of the Picture Post Studios IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. Shreni Shares is the market maker for the Picture Post Studios IPO.

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Picture Post Studios Company Details

Picture Post Studios IPO raised ₹5.30 crore from anchor investors. The company's promoters are Parish Tekriwal, Shailendra Ishwardas Chandgotia, Pooja Shailendra Chandgothia, and Deepa Shailendra Chandgothia.

Incorporated in 2019, Picture Post Studios Ltd specializes in movie editing, computer-generated imagery (CGI), visual effects (VFX), video conversion, grading, and mastering films and commercials for various channels and digital platforms.

The company offers a wide range of services for the entertainment industry. It specializes in visual effects, post-production, colour grading, motion design, and creating captivating visual experiences for global audiences.

Being a VFX studio, they provide various visual effects services. The production team oversees the process, and the artists use software, hardware, and proprietary tools to create outstanding VFX for Web Series, Commercials, Music Videos, and Films. The company's studio is situated in Khar Colony, Mumbai.

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Picture Post Studios IPO GMP

According to investorgain.com, Picture Post Studios' IPO GMP today, or grey market premium, is ₹10 per share. This indicates that Picture Post Studios' equity shares are trading at ₹34 apiece in the grey market, a premium of 41.67 per cent to the IPO price of ₹24 per share.