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News Details

28/08/2023 12:00

Basilic Fly Studio announces launch of initial public offering

Basilic Fly Studio Ltd. has announced public offering of 6840000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 87.00 per share. The gross proceeds of the issue are expected to be Rs 6,634.80 lakhs.

The company's initial public offer (IPO) will open on 01 September 2023 and is expected to close on 05 September 2023, subject to customary closing conditions. The price band of the issue has been fixed at Rs 92.00-97.00 per share.

The IPO includes a fresh Issue of 6840000 Equity Shares of the Company at an price of Rs 97.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1200 shares with bids in multiples of 1200.

Basilic Fly Studio Ltd. anticipates using the proceeds of the issue for Expenditure for setup of Studio/Facility at Hyderabad and Salem; Expenditure for adding infrastructure to further strengthen the existing facilities/offices of the company located at Chennai and Pune Making investment through equity in the subsidiaries for expansion of workspace by acquiring new office space located atLondon and strengthen the existing facilities/offices located at Vancouver General Corporate Purposes and Issue Expenses.

GYR CAPITAL ADVISORS PRIVATE LIMITED as lead manager & Purva Sharegistry (India) Pvt. Ltd. is the registrar, to the issue.