Basilic Fly Studio IPO receives overwhelming response from investors
The IPO of Basilic Fly Studio Company, a Chennai-based visual effects studio, has been opened for investment. The IPO, with a size of Rs 66 crore, has received a tremendous response from investors, with bids surpassing Rs 10,000 crore. The IPO has been oversubscribed 355 times, indicating strong investor interest.
Basilic Fly Studio: A global player in the visual effects industry
Basilic Fly Studio, apart from operating in India, also has business operations in Canada and the UK. The company has made significant contributions to the visual effects of numerous Hollywood films, including blockbusters like Avengers: Endgame, SpiderMan No Way Home, and Top Gun: Maverick.
Record-breaking subscription numbers for Basilic Fly Studio IPO
Investors have shown immense interest in Basilic Fly Studio’s IPO, resulting in oversubscription by 355 times. Retail investors have subscribed 409.12 times the reserved quota, while non-institutional investors and qualified institutional buyers have oversubscribed 549.07 times and 116.34 times the reserve quota, respectively.
Gray market trading and potential listing price for Basilic Fly Studio
The IPO shares of Basilic Fly Studio Company are currently trading at Rs 280 in the gray market. If allocated at the upper price band of Rs 97, and considering the gray market premium, the stock may list at Rs 377, offering a potential return of 288% on the day of listing. The IPO was open for subscription on September 1, 2023.
Important dates and details of Basilic Fly Studio IPO
The IPO consists of fresh equity shares worth Rs 60.5 crore and an offer for sale of 6 lakh shares. The listing of the company’s shares is scheduled for September 13, 2026, with the allocation to investors taking place on September 8, 2023. The stock will be listed on both the NSE SME platforms.
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