Basilic Fly Studio IPO: Offer subscribed 26.08 times on Day 1

Basilic Fly Studio IPO records bumper subscription on debut

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26 Aug, 2025 12:21

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The initial public offering (IPO) of Basilic Fly Studio, which opened for subscription on September 1, was subscribed 26.08 times, with bids coming in for 13.29 crore shares against an issue size of 50.96 lakh.

Retail investors bought 49 times their allotted quota of shares, high networth individuals 28.5 times and qualified institutional buyers (QIB) bid 7.18 times the shares set aside for them.

Half of the offer has been reserved for QIB, 15 percent for HNIs and the remaining 35 percent for retail participants.

The visual effects (VFX) studio is planning to raise Rs 66.35 crore through the IPO at the upper price band. The price band for the offer, which closes September 5, has been fixed at Rs 92-97 a share.

The public issue comprises a fresh issue of Rs 60.53 crore and an offer for sale of shares worth Rs 5.82 crore by promoters Balakrishnan and Yogalakshmi S.

Basilic Fly Studio has already mopped up Rs 16.91 crore by issuing 17,43,600 shares to four anchor investors, including Saint Capital Fund and Silver Stallion, on August 31.

The Chennai-headquartered company, which also operates in Canada and the UK via subsidiaries, will set up a studio or a facility in Hyderabad and Salem, and add infrastructure to the existing facilities in Chennai and Pune using fresh issue proceeds.

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The expansion of workspace by acquiring office space in London and strengthening the facilities in Vancouver will also be funded through fresh issue funds. The remaining will be used for general corporate purposes and issue expenses, the company said.