In recent times, the financial world witnessed a remarkable event – the IPO of Basilic Fly Studio in the SME segment. This Chennai-based visual effects (VFX) studio company made an electrifying debut on the stock exchange, leaving investors astounded. In this comprehensive article, we will delve into the details of Basilic Fly Studio’s IPO, its astounding success, the factors contributing to it, and what lies ahead for this pioneering company.
Introduction
The Basilic Fly Studio IPO, a groundbreaking event, has sent shockwaves through the investment community. With a staggering 180 percent jump from its IPO price, this IPO has captured the attention of both seasoned investors and newcomers. Let’s explore the journey of Basilic Fly Studio’s IPO and the factors that have contributed to its incredible rise.
A Record-Breaking Response
One of the most notable aspects of Basilic Fly Studio’s IPO is the overwhelming response it received from investors. The company aimed to raise Rs 66 crore from the market, but the demand far exceeded expectations. Applications poured in, totaling more than Rs 10,000 crore, making it one of the most subscribed IPOs in recent memory. The IPO was subscribed an astonishing 286.61 times, reflecting the tremendous investor confidence in Basilic Fly Studio.
IPO Timeline and Price Band
The IPO of Basilic Fly Studio was open for subscription from September 1st to September 5th, 2023. The company had set the price band for the IPO at Rs 92-97 per share, a range that seemed attractive to investors considering the eventual listing price.
Stock Performance
Basilic Fly Studio’s stock made a grand entry into the stock exchange, trading at a 240 percent premium to the gray market price. While there were expectations that the shares, initially priced at Rs 97, would list around Rs 330 on the SME exchange of the National Stock Exchange (NSE), they soared even higher. Currently, the stock is trading at Rs 285.55, reflecting a remarkable jump of 194 percent from its IPO price, and has hit the upper circuit.
An Overview of Basilic Fly Studio
Basilic Fly Studio is a Chennai-based visual effects (VFX) studio company with a global presence, including locations in Canada and the UK. The company has made significant contributions to the entertainment industry, working on blockbuster Hollywood films like Avengers, Spider-Man, Top Gun, and Maverick.
Factors Contributing to Success
Several key factors have contributed to the phenomenal success of Basilic Fly Studio’s IPO:
- Strong Industry Presence: Basilic Fly Studio’s reputation in the VFX industry, particularly in Hollywood, has instilled confidence among investors.
- Profitable Financials: The company’s financial performance, with a total revenue of Rs 78.95 crore and a profit of Rs 27.74 crore in the financial year 2022-23, demonstrates its stability and growth potential.
- Investor Confidence: The overwhelming response from investors indicates a high level of trust in the company’s future prospects.
- Attractive Price Band: The IPO’s price band of Rs 92-97 per share was well-received by investors, making it an attractive investment opportunity.
FAQs
Q: What is the subscription timeline for Basilic Fly Studio’s IPO? A: The IPO was open for subscription from September 1st to September 5th, 2023.
Q: How much did Basilic Fly Studio aim to raise through its IPO? A: The company aimed to raise Rs 66 crore from the market.
Q: What was the price band for Basilic Fly Studio’s IPO? A: The price band for the IPO was set at Rs 92-97 per share.
Q: How did Basilic Fly Studio’s stock perform after listing? A: The stock listed at a 240 percent premium to the gray market price and has since seen a jump of 194 percent.
Q: In which countries is Basilic Fly Studio present? A: Basilic Fly Studio has a presence in Chennai, Canada, and the UK.
Q: What Hollywood films has Basilic Fly Studio worked on? A: The company has contributed to Hollywood films such as Avengers, Spider-Man, Top Gun, and Maverick.
Conclusion
The Basilic Fly Studio IPO has undoubtedly made a significant impact on the stock market. With its spectacular listing and overwhelming investor response, it has cemented its position as a rising star in the financial world. As the company continues to expand its horizons and contribute to the entertainment industry, it will be fascinating to watch its journey unfold.
