The initial public offering (IPO) of Basilic Fly Studio witnessed a stellar response from investors, becoming one of the most subscribed issues this year so far. While the issue was fully subscribed within a few hours of its opening; it was booked a massive 286.60 times in the 3 days of bidding.
It received bids for 145.96 crore shares against 50.96 lakh shares on offer.
The category for non-institutional investors (NII) was subscribed to the most, 549.44 times, followed by the portion reserved for retail investors, which was booked 415.22 times. Meanwhile, the qualified institutional buyers (QIBs) quota witnessed 116.34 times bid.
The NII part received bids for 47.93 crore shares versus 8.72 lakh shares on offer while the retail investor quota received bids for 84.50 crore shares versus 20.35 lakh shares offered. The QIB category received bids for 13.52 crore shares against 11.62 lakh shares on offer.
The issue was subscribed to 33.17 times on Day 1 and 139.54 times on Day 2.
About the IPO
The ₹66.35 crore SME IPO was open for subscription between September 1 and September 5, 2023, with a price band in the range of ₹92-97 with a minimum order of 1,200 shares. The public issue comprised of a fresh issue of shares worth ₹60.53 crore and an offer-for-sale of 6 lakh shares worth ₹5.82 crore by promoters. Ahead of the IPO, the firm had already raised ₹16.91 crore via anchor book, a part of QIB.
50 percent of the issue was reserved for QIBs, 15 percent for HNIs and the remaining 35 percent for retail investors.
Basilic Fly Studio Limited is one of the top visual effects (VFX) studios in India having headquarters in Chennai and Pune with subsidiaries operating in Canada and UK. The company till date has over 10,000 completed projects; BFS has worked with more than 300 clients, including 900 movies, 2,000 series, and 8,000 commercials.
The visual effects (VFX) studio operator will utilise fresh issue proceeds for setting up a facility in Hyderabad and Salem, and add the infrastructure to existing facilities in Chennai and Pune. Further, the expansion of workspace in London, strengthening the facilities in Vancouver, and general corporate purposes will also be funded by fresh issue money.
Meanwhile, the share allotment of the issue will also be finalised today, September 8. The investors who applied for the issue can check the Basilic Fly Studio IPO allotment status on the registrar's portal - Purva Sharegistry India Pvt Ltd.
Investors can find out if and how many shares they have been given through the basis of allotment. The initiation of the refund process will start on Monday, September 11, for individuals not given shares. Those allotted will receive their shares in their demat accounts on Tuesday, September 12.
The shares will be listed on NSE Emerge on September 13.
Here's how to check the allotment status
1) Go to the website of Purva Sharegistry India.
2) Click on ‘Company Selection’ and then select the IPO name (Basilic Fly Studio).
3) Now, enter your PAN, application number, DP / Client ID or account number / IFSC.
4) Click on ‘Search’.
The status will only appear after allotment if the details are entered correctly.
Basilic Fly Studio IPO GMP today
The company's shares in the grey market are trading at a healthy premium of ₹230, indicating a strong 237 percent premium at listing.
However, one must note that the grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.