Basilic Fly Studio Announces IPO for 2023: Opening on September 01
Chennai-based visual effects (VFX) powerhouse, Basilic Fly Studio Private Limited, is set to embark on a new phase of growth with its upcoming Initial Public Offering (IPO). The IPO is scheduled to open on September 01, 2023, and will conclude on September 05, 2023. The company, known for its exceptional expertise in creating mesmerizing visual experiences, aims to raise ₹66.35 Crores through this public issue.
The IPO has been priced in the range of ₹92 to ₹97 per share, considering the face value of ₹10. The offering comprises 6,840,000 Equity Shares and follows a 100% Book Built Issue structure. The allotment for this IPO is categorized as follows: 50% reserved for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 35% for Retail Investors.
Basilic Fly Studio Private Limited has a remarkable track record in the VFX industry, delivering top-notch solutions for movies, TV shows, web series, and commercials. Headquartered in Chennai, India, the company operates with subsidiaries in Canada and the UK. Its ability to captivate global audiences with captivating visual experiences has led to its prominence in the entertainment industry.
One of the key highlights of the company’s growth strategy is its expansion plans. Basilic Fly Studio has earmarked the funds raised from the IPO for several purposes. These include setting up a Studio/Facility in Hyderabad and Salem, enhancing infrastructure in its existing facilities/offices located in Chennai and Pune, expanding workspace in London through equity investment in subsidiaries, and fortifying its existing facilities/offices in Vancouver.
The IPO also marks a significant step for the company’s broader objectives. The funds will be directed towards fulfilling general corporate purposes and covering issue expenses, allowing Basilic Fly Studio to solidify its presence in the market and further strengthen its industry partnerships.
As anticipation builds for the IPO, investors, industry enthusiasts, and stakeholders are keen to see the outcome of this offering. The public response and the reception to Basilic Fly Studio’s IPO will undoubtedly shape the trajectory of its growth and influence the future of the VFX industry.
For real-time updates on the IPO, including Grey Market Premium (GMP) details, investors can stay informed through reliable financial sources. The Basilic Fly Studio IPO promises an exciting opportunity for investors to be part of the studio’s journey as it continues to captivate audiences with its visual prowess.
