PNN

New Delhi [India], September 6: Initial public offer (IPO) of Basilic Fly Studio oversubscribed by 286.61 times, procuring 14,168.62 crore against IPO size of 66.35 crore.

Total number of shares offered for subscription was 68,40,000 equity shares of which anchor allotment was of 17,43,600 shares. The Company received total bids of 13,52,79,600   for QIB category was oversubscribed by 116.34 times. NII Category was subscribed 549.44 times while retail portion (RII) category oversubscribed by 415.22 times making an issue overall subscribed by 286.61 times garnering subscription money of 14,168.62 crore. The shares will be listed on NSE Emerge.

Basilic Fly Studio Limited, is one of the top visual effects (VFX) studios in India having headquarters in Chennai and Pune with subsidiaries operating in Canada and UK. The Company till date has over 10,000 completed projects, BFS has worked with more than 300 clients, including 900 movies, 2,000 series, and 8,000 commercials.

Balakrishnan, Managing Director & CEO of Basilic Fly Studio Limited said, "The company is overwhelmed by the confidence of the investors shown on us. Our vision is to emerge as one of the leading VFX player and will work towards garnering higher market share in times to come. Our commitment remains steadfast - to solidify our position as a prominent VFX player in the industry and to continuously pursue a larger market share.

This IPO not only strengthens our resolve but also equips us with the resources to dream bigger and achieve more"        

Mohit Baid, Executive Director of GYR Capital Advisors Limited said, "GYR Capital Advisors always strive to achieve its commitments to bring quality companies on board in SME Segment. Basilic Fly Studio's IPO success reaffirms our belief in their potential. 

This IPO will enhance Company's brand presence while IPO funding will increase its resources to drive future growth."

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