Basilic Fly Studio SME IPO to hit Street soon: Important dates, issue price, other key things to know

Basilic Fly Studio, a Chennai-based visual effects (VFX) powerhouse, is all set to launch an initial public offer (IPO), estimated to be worth Rs 66 crore, on September 1. The book-building issue, comprising fresh issuance of shares worth up to Rs 60.5 crore and an offer for sale (OFS) worth Rs 5.8 crore, will be rolled out on stock exchange NSE’s SME platform.

Here are some important things about the upcoming Basilic Fly Studio SME IPO:

Important dates

The IPO will open for subscription on September 1, and close on September 5. The finalisation of the basic allotment of shares, under the IPO, is likely on September 8, and the credit of shares set to take place on September 12.

The Basilic Fly Studio stock is likely to be listed on the SME platform on the bourse on September 13.
 

Issue price

A price range of Rs 92 to Rs 97 per share has been fixed for the IPO. Potential investors will be available for bid for shares, under the IPO, in multiples of 1,200, translating to Rs 1,10,400-1,16,400 per lot.

Fund utilisation

The company plans to utilize the proceeds towards the following:
- Expenditure for the setting up of studio or facility at Hyderabad and Salem
- Expenditure for adding infrastructure to further strengthen the existing facilities or offices located in Chennai and Pune
- Investment through equity in the subsidiaries for expansion of workspace by acquiring new office space located in London
- Strengthening the existing facilities or offices located in Vancouver.
- General corporate purposes and issue expenses

Investor reservation

While up to 50 per cent of the issue is reserved for qualified institutional buyers (QIBs), 15 per cent of it is meant for non-institutional investors (NIIs) and the remaining 35 per cent for retail investors.

About Basilic Fly Studio

Basilic Fly Studio is a visual effects (VFX) studio headquartered in Chennai with subsidiaries operating in Canada and the UK. The company has more than 500 skilled individuals, and has offices in Pune, London and Vancouver.