Inspire Films stock makes decent debut, lists at 13.5% premium over IPO price on NSE SME

Inspire Films IPO received a stellar response from investors as the issue was subscribed 129.08 times.

Inspire Films stock made a decent debut, listing at a 13.5 percent  premium over the IPO price. The stock listed at Rs 67 against the issue price of Rs 59.

The IPO received a stellar response from investors as the issue was subscribed 129.08 times. The public issue was subscribed 180.41 times in the retail category, 25.27 times in the qualified institutional buyers (QIB) category, and 147.16 times in the non-institutional investors (NII) category. Yash Arabinda Patnaik and Beyond Dreams Entertainment Private Limited are the promoters of the company.

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Today, before the listing, the grey market premium (GMP) fell to Rs 3, indicating a listing price of Rs 62. Through the IPO, Inspire Films raised 21.23 crore. The public offer was entirely a fresh issue of 35.98 lakh shares and there was no offer-for-sale component. The issue opened for subscription on September 25 and closed on September 27. The price band was fixed at Rs 56-59 per share.

Ahead of the IPO, the company raised Rs 6.03 crore via anchor investors. Rajasthan Global Securities Private Limited, LRSD Securities Private Limited and NAV Capital Emerging Star Fund took part in the anchor book.

The company will use the IPO proceeds to fund the working capital requirements and general corporate purposes. The book-running lead manager for the issue was Narnolia Financial Services Ltd, Maashitla Securities Private Limited was the registrar and Share India Securities was the market maker.

Also Read: Production firm Inspire Films launches IPO to build content library, create homegrown OTT

Inspire Films is primarily engaged in the business of creation, production, distribution, and exhibition of television and digital content across broadcasting channels, apps and digital platforms as well as content writing, production and sale and purchase of film rights.

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