Basilic Fly Studio, a leading visual effects (VFX) company based in Chennai, India, is set to launch its initial public offering (IPO) on September 1, 2023. The IPO will offer 6,840,000 equity shares of the face value of ₹10 each, aggregating up to ₹66.35 crores. The issue is priced at ₹92 to ₹97 per share.
Basilic Fly Studio was founded in 2010 by Balakrishnan S and Yogalakshmi S. The company provides VFX services for a variety of industries, including film, television, advertising, and gaming. Basilic Fly Studio has worked on a number of high-profile projects, including the films "Baahubali" and "2.0", and the television series "Game of Thrones".
The proceeds from the IPO will be used to expand Basilic Fly Studio's operations, including setting up new studios in Hyderabad and Salem, and adding infrastructure to its existing facilities in Chennai and Pune. The company will also use the proceeds to repay debt and fund working capital requirements.
The IPO is being managed by GYR Capital Advisors Private Ltd. The lead bookrunners for the issue are ICICI Securities, HDFC Bank, and Axis Capital.
The IPO is open for subscription from September 1 to September 5, 2023. The shares are expected to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on September 13, 2023.
The IPO of Basilic Fly Studio is a significant milestone for the company. The company is well-positioned to grow in the VFX industry, which is expected to grow at a CAGR of 15% over the next five years. The IPO will provide Basilic Fly Studio with the capital it needs to expand its operations and capture a larger share of the market.
If you are interested in investing in the IPO of Basilic Fly Studio, you should carefully consider the risks and rewards involved. The company is still relatively young and has limited operating history. The IPO is also being offered at a premium to the company's current valuation. However, the company has a strong track record and is well-positioned to grow in the VFX industry.
I hope this article provides you with a better understanding of the Basilic Fly Studio IPO. Please do your own research before making any investment decisions.
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