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The primary issuances on the exchange platform for small and medium enterprises (SMEs) are making waves with Chennai-based Basic Fly Studio mopping up all-time high investment of ₹14,169 crore against the issue size of ₹66.35 crore.
Interestingly, the retail individual investors portion of ₹19.74 crore attracted an investment of ₹8,197 crore and was subscribed 415 times, while the non-institutional investor portion got subscription of ₹4,650 crore against allotted ₹8.46 crore.
Qualified institutional bidders’ portion was oversubscribed 116 times at ₹1,312 crore against allotted portion of ₹11.28 crore. The company will be listed on the NSE Emerge platform.
Established in 2013, the visual effect company Basilic Fly Studio was started as a partnership firm and was converted into private limited company in 2016.
With experience of a decade, it delivers visual effect solution for movies, TV, net series and commercials.
Started from a small office of 800 sq ft, the company, today, has the best of talent in the industry and has completed over 10,000 projects including 900 movies, 2,000 series and over 8,000 commercials.
It registered a net profit of ₹28 crore on an EBITDA of ₹39 crore and revenue of ₹79 crore last fiscal.
Listing gains
Lured by huge listing gains, IPOs on SME exchanges are attracting huge investments recently, especially from retail investors despite SEBI fixing a high lot size.
Foreign institutional investors are also showing renewed interest in such IPOs, as the valuation of small-and mid-cap stocks on the main board are hitting the roof.
The recent IPO of solar energy solutions provider Oriana Power has received a whopping bid worth ₹7,000 crore for an issue of ₹60 crore.
Its anchor investors include marque investors including Morgan Stanley Asia (Singapore) PTE, India-Ahead Venture Fund and Aryabhata Global Asset Funds.
The shares of Oriana Power made a dream debut by listing at ₹302 a piece on NSE Emerge against the issue price of ₹118.
Krishca Strapping Solutions, manufacturer of high-tensile steel straps and seals, mopped up a response of ₹4,391 crore against the issue size of ₹20 crore. The stock, with price fixed at ₹54 PER SHARE, got listed at ₹119.
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