Basilic Fly Studio IPO: Opening on September 1 at Rs 92-97 per Share
Basilic Fly Studio IPO
Basilic Fly Studio IPO: Opening on September 1 at Rs 92-97 per Share
In the ever-evolving landscape of investment and finance, Basilic Fly Studio is set to make its mark with a significant stride – the unveiling of its Initial Public Offering (IPO).
The Chennai-based visual effects (VFX) studio has strategically positioned itself for growth by initiating this IPO.
The company has meticulously fixed the price band for the IPO at Rs 92-97 per share. Scheduled to open for subscription on September 1, the IPO presents a compelling investment opportunity that will remain open until September 5.
As the first SME IPO to debut in September, Basilic Fly Studio’s IPO is poised to create a significant impact in the market, drawing attention from investors and market analysts alike.
The Offering in Detail
Basilic Fly Studio’s IPO structure is designed to raise a total of Rs 66.35 crore through a public issue of 68.40 lakh shares. This financial move not only showcases the company’s confidence in its potential but also lays the foundation for expansion and innovation.
The IPO’s structure comprises two major components – fresh equity issuance and an Offer for Sale (OFS) segment. Under the IPO, the company plans to issue 62.4 lakh fresh equity shares, valued at approximately Rs 60.53 crore.
Additionally, the OFS route will involve the sale of 6 lakh shares for Rs 5.82 crore. This OFS component will include shares sold by the promoters, Balakrishnan and Yogalakshmi S, who collectively hold an 85.40 percent stake in the company.
Investment Opportunity and Lot Size
Investors keen on participating in Basilic Fly Studio’s IPO will have the opportunity to bid for a minimum of 1200 shares and in subsequent multiples.
This structure places the minimum investment at Rs 116,400, making the IPO accessible to a wide range of potential investors. Within the total issue, the company has allocated 10.26 lakh shares specifically for market makers.
Consequently, the net issue encompasses 58.14 lakh equity shares, which will be divided among different categories of investors, including Qualified Institutional Buyers (QIBs), High Net Worth Individuals (HNIs), and Retail investors.
The allocation plan stands as follows: 50 percent for QIBs, 15 percent for HNIs, and the remaining 35 percent for retail investors.
An integral part of the QIB category, the Anchor Book, will open for subscription on August 31. This provision serves to facilitate a strategic and diverse investor base that aligns with Basilic Fly Studio’s growth vision.
Utilization of Funds: A Glimpse into Strategic Allocations
The funds generated through this IPO are strategically earmarked to amplify Basilic Fly Studio’s operations, expand its footprint, and enhance its capabilities.
One of the key areas of investment entails the establishment of a studio or facility in Hyderabad and Salem, with an allocation of up to Rs 21.36 crore.
This step reflects the company’s commitment to optimizing its infrastructure to cater to evolving demands and capitalize on new opportunities.
A significant portion of the IPO funds, totaling Rs 19.6 crore, will be dedicated to further strengthening the existing facility in Chennai and Pune.
This step underscores the company’s commitment to nurturing its core operations and elevating the overall quality of its offerings.
Moreover, the company’s strategic expansion extends beyond India’s borders. Basilic Fly Studio intends to invest in subsidiaries to acquire new office space in London, contributing to its global presence.
Furthermore, the company’s Vancouver facility will receive a boost through an investment of up to Rs 4.65 crore, ensuring that its international operations are equally fortified.
The remaining funds will be prudently allocated to cover general corporate purposes and expenses associated with the IPO, fostering a robust financial foundation for the company’s future endeavors.
Basilic Fly Studio’s Remarkable Portfolio
Basilic Fly Studio’s impact on the entertainment industry is vividly illustrated through its involvement in prestigious film projects.
The studio has played a pivotal role in creating captivating visual effects for a plethora of acclaimed films. Its portfolio includes contributions to notable productions such as “Top Gun: Maverick,” “The Whale,” “Spider-Man: No Way Home,” “Shang-Chi and the Legend of the Ten Rings,” “Avengers: Endgame,” “Mary Poppins Returns,” and “Alita: Battle Angel.”
This remarkable roster of projects reflects the studio’s technical prowess and its commitment to crafting visual experiences that captivate audiences worldwide.
The company’s influence extends beyond the borders of India. Operating through its subsidiaries in Canada and the UK, Basilic Fly Studio has solidified its international presence, leveraging its expertise to contribute to global film projects and showcase the potential of Indian creative talent on a global stage.
Conclusion: The Dawn of a New Chapter
As Basilic Fly Studio prepares to launch its IPO, a new chapter in the company’s journey unfolds. The IPO’s significance transcends numbers; it symbolizes a strategic move to strengthen operations, expand reach, and amplify growth.
This IPO comes at a time when the global entertainment industry is witnessing transformative changes, driven by technological advancements and evolving consumer preferences.
Basilic Fly Studio’s vision aligns with these changes, positioning it as a pivotal player in shaping the future of visual effects and creative storytelling.
The forthcoming subscription period is likely to witness heightened interest and participation from investors who recognize the value proposition that Basilic Fly Studio’s IPO represents.
As investors evaluate this opportunity, they are not merely considering financial gains but also investing in the potential of an innovative company that thrives on creativity and technical expertise.
In sum, Basilic Fly Studio’s IPO marks the culmination of meticulous planning, visionary leadership, and a commitment to excellence.
As the subscription window opens, stakeholders, investors, and the industry at large eagerly anticipate the journey that lies ahead – a journey that is poised to elevate Basilic Fly Studio’s prominence in the global creative landscape.
