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Basilic Fly Studio IPO sees historic subscription of 287 times; here's how to check allotment status and GMP

Investors responded enthusiastically to Basilic Fly Studio's initial public offering (IPO), making it one of the most heavily subscribed issues so far this year. The issue was fully subscribed within a few hours of it going on sale, but during the three days of bidding, it was massively booked 286.60 times.

50.96 lakh shares were offered, and 145.96 crore shares were bid for.

The most subscriptions (549.44) were made for the non-institutional investors (NII) category, followed by 415.22 for the retail investors' component. In the meantime, 116.34 times the quota for qualified institutional buyers (QIBs) saw bids.

In contrast to the 8.72 lakh shares that were offered, the NII portion received bids for 47.93 crore shares, while the retail investor quota received bids for 84.50 crore shares. 11.62 lakh shares were offered in the QIB category, however offers for 13.52 crore shares were received.

On Day 1 there were 33.17 subscriptions, while on Day 2 there were 139.54 subscriptions.

Regarding the IPO
The subscription period for the 66.35 crore SME IPO ran from September 1 to September 5, 2023, with a price band of 92 to 97 and a minimum order of 1,200 shares. The new issue of shares totaling $60.53 crore and the promoters' offer to sell 6 lakh shares totaling $5.82 crore made up the public offering. Prior to the IPO, the company raised 16.91 crore through QIB's anchor book.

QIBs were allowed to purchase 50% of the issuance, HNIs may purchase 15%, and regular investors could purchase the remaining 35%.

One of the best visual effects (VFX) studios in India, Basilic Fly Studio Limited has offices in Chennai and Pune as well as subsidiaries in Canada and the United Kingdom. Over 10,000 projects have been accomplished by the business to date; BFS has worked with over 300 clients on 900 films, 2,000 television series, and 8,000 advertisements.

The visual effects (VFX) studio operator will use the proceeds from the recent issue to build new facilities in Salem and Hyderabad and upgrade the infrastructure at Chennai and Pune locations. Additionally, fresh issue money will be used to finance the extension of workspace in London, the bolstering of facilities in Vancouver, as well as general company reasons.

The issue's share distribution will also be completed today, September 8. The Basilic Fly Studio IPO allotment status can be viewed on the registrar's website, Purva Sharegistry India Pvt Ltd, by investors who submitted applications for the offering.

Through the basis of allotment, investors can determine if and how many shares they have been allocated. For those who were not awarded shares, the refunding process will begin on Monday, September 11. On Tuesday, September 12, those who were allocated will receive their shares in their demat accounts.


Daniel Jack

For Daniel, journalism is a way of life. He lives and breathes art and anything even remotely related to it. Politics, Cinema, books, music, fashion are a part of his lifestyle.