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Basilic Fly Studio IPO opened for subscribers on Friday, September 1 and closed on Tuesday, September 5. Basilic Fly Studio IPO saw a strong subscription as the issue was subscribed 286.6 times with bids for 146 crore equity shares as against the issue size of 50.96 lakh shares.

Basilic Fly Studio IPO details 

Basilic Fly Studio IPO, which is worth ₹66.35 crore, consists of fresh issue of 6,240,000 shares that aggregates to ₹60.53 crores ,and offer for sale of 600,000 shares of ₹10, which totals to ₹5.82 crores. The company intends to use the net proceeds from the offering to pay for the following objectives, including the establishment of studios and facilities in Salem and Hyderabad as well as the addition of infrastructure to the company’s current offices in Chennai and Pune.

Making investments through equity in the subsidiaries for general corporate purposes, issue costs, and workspace development by acquiring new office space in London as well as upgrading the current facilities/offices in Vancouver. Basilic Fly Studio IPO lot size is 1,200 shares.

Basilic Fly Studio IPO GMP today

Basilic Fly Studio IPO GMP today or grey market premium is +230 higher than the previous trading session, which was +220. This indicates Basilic Fly Studio share price were trading at a premium of ₹230 in the grey market on Monday, according to topsharebrokers.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Basilic Fly Studio share price is ₹327 apiece, which is 237.11% higher than the IPO price of ₹97.

According to topsharebrokers.com, the lowest GMP is ₹0, while the highest GMP is ₹280. 

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Updated: 11 Sep 2023, 10:12 AM IST