Basilic Fly Studio IPO Subscribed 287 Times GMP Trading Above 240 Percent Of Issue Price

Basilic Fly Studio IPO: Basilic Fly Studio’s IPO to bring IPO in SME Segment has received a bumper response from investors. The company had brought an IPO (Intial Public Offering) to raise Rs 66 crore from the market, but the company has received applications for a total of more than Rs 10,000 crore. The IPO has been subscribed a total of 286.61 times. Basilic Fly Studio is a Chennai based Visual Effects (VFX) studio company that also operates in Canada and the UK.

IPO subscribed 287 times

Basilik Fly Studio’s IPO was open on 1 September 2023 and investors could apply till 5 September. The company had fixed the price band of the IPO at Rs 92-97 per share. The company is issuing fresh shares worth Rs 60.6 crore and apart from this, it is issuing 6 lakh shares in Offer For Sale. According to NSE data, applications have been received for more than 146 crore shares in the company’s IPO, which is valued at around Rs 10,000 crore. The IPO has closed after being subscribed a total of 287 times.

240 percent is the gray market price (GMP)

Basilic Fly Studio’s IPO is trading at 240 per cent premium in the gray market. That is, a share of Rs 97 can be listed at around Rs 330 on the SME Exchange of NSE.

excellent financial performance

If we look at the financial performance of the company, in the financial year 2022-23, the company had received a total revenue of Rs 78.95 crore, on which a profit of Rs 27.74 crore was made. With the amount raised in the IPO, the company will build a new studio in Hyderabad. Shares will be allotted to successful investors by September 8, while on September 13 the stock will be listed on the SME platform of NSE. Basilic Fly Studio has worked for Hollywood movies like Avengers, Spider-Man, Top Gun, Maverick.

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