Basilic Fly Studio IPO: Shares Listed at 180% Premium in Stock Market Debut
The shares of Basilik Fly Studio Company have made a bang entry in the stock market as they were listed at a premium of 180 percent. The initial public offering (IPO) price of the company’s shares was Rs.97, but they are now trading at Rs.271, resulting in a profit of Rs 174 for investors who participated in the IPO.
The stock is listed on the NSE SME platform and witnessed a 1 percent increase on the first day of trading. Retail investors were allowed to buy only 1 lot, which consisted of 1200 shares. Investors who bought a lot of 1200 shares now have an investment value of Rs 2.08 lakh.
The IPO of Basilik Fly Studio Company, which deals with visual effects, was oversubscribed 358 times, indicating strong investor interest. The company’s subsidiaries operate in Canada and the UK, and it has worked on blockbuster Hollywood films like Avengers: Endgame and Spider-Man: No Way Home.
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