Basilic Fly Studio Ltd IPO Timeline

Basilic Fly Studio Ltd IPO opens on 01-Sep-2023, and closes on 05-Sep-2023. The Basilic Fly Studio Ltd IPO bid date is from 01-Sep-2023 to 05-Sep-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Basilic Fly Studio Ltd IPO Opening Date 01-Sep-2023
Basilic Fly Studio Ltd IPO Closing Date 05-Sep-2023
Basis of Allotment 11-Sep-2023
Initiation of Refunds 12-Sep-2023
Credit of Shares to Demat 13-Sep-2023
Basilic Fly Studio Ltd IPO Listing Date 11-Sep-2023

Basilic Fly Studio Ltd IPO Lot Size

Basilic Fly Studio Ltd IPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or 116400).

Application Lots Shares Amount
Minimum 1 1200 ₹116400
Maximum 1 1200 ₹116400

Basilic Fly Studio Ltd IPO Details

Basilic Fly Studio Ltd IPO Date 01-Sep-2023 to 05-Sep-2023
Basilic Fly Studio Ltd IPO Face Value Shares of ₹10 per share
Basilic Fly Studio Ltd IPO Price ₹92 to ₹97 per share
Basilic Fly Studio Ltd IPO Lot Size 1200
Issue Size Shares of ₹10 (aggregating up to ₹66.35 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹57.41 Cr)
Offer for Sale Shares of ₹10 (aggregating up to ₹5.52 Cr)
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Balakrishnan, Yogalakshmi S.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Expenditure for setup of stuio/facility at Hyderabad & Salem
  • 2 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 the offices/facilities located at London & Vancouver
  • 3 Making investment through equity in the subsidiaries for expansion of workspace by acquiring new office space located at London and strengthen the existing facilities/office located at Vancouver
  • 4 General corporate purposes

Company Financials

Basilic Fly Studio Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2023 48.82 70.51 26.44
03-2022 13.57 24.01 0.79
03-2021 9.36 17.31 0.34
Amount in ₹ Crore
  • New Age Business
  • Cordial relations with its customers.
  • National and International Cliental Portfolio.
  • Leveraging the experience of its Promoters.
  • Young, dynamic and motivated creative team.
  • The Company has delayed in compliances with some statutory provisions of the Companies Act. and delayed compliance may attract penalties against the company which could impact the financial position of it to that extent.
  • The Company operates in the constantly evolving VFX market, which is subject to rapidly changing clients' behaviour and tastes, and depends on audience acceptance of content for which the Company provides VFX services and the long-term popularity of the brands.
  • The company has issued Equity Shares during the last one year at a price that may be below the Issue Price.
  • Any non-compliance or delays in GST Return Filings and EPF Payments may expose it to penalties from the regulators.
  • There are outstanding litigations involving the Company, Promoters and Directors which, if determined adversely, may affect its business and financial condition.
  • The Company is subject to foreign exchange control regulations and foreign currency transactions which can pose a risk of currency fluctuations.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior shareholders' approval.
  • The company business is dependent on the contractual arrangements entered into by it. Many of its client contracts can be terminated with or without cause by providing notice and without termination-related penalties.
  • The Company requires several statutory and regulatory permits, licenses and approvals for its operations. The company inability to obtain, renew or maintain the statutory and regulatory licenses, permits and approvals required to operate its business may have a material adverse effect on the business & operations.
  • The company Auditor has not considered the audited financials for the audit report year ending on March 31st 2023 for one of its foreign material subsidiaries.
  • The company depends on its relationships with production house and film directors and other industry participants to exploit the company film content.
  • The company ability to remain competitive may be adversely affected by rapid technological changes and its ability to access such technology.
  • Intensified competition may restrict the company ability to access content and/or talent.
  • The company operate in an industry which is highly sensitive with regard to maintenance of secrecy of the projects and its contents. Any failure on the part to maintain secrecy of the projects, will have an adverse effect on the company results of operations and financial condition.
  • The company Promoters and members of the Promoter Group will continue jointly to retain majority control over the Company even after the Issue which will allow them to determine the outcome of matters submitted to shareholders for approval.
  • The company may require additional working capital in the future. A failure in obtaining such additional financing at all or on terms favourable to it could have an adverse effect on the company results of operations and financial condition.
  • The company is heavily dependent on its Promoters and Key Managerial Personnel for the continued success of the business through their continuing services and strategic guidance and support.
  • If the company is unable to attract new clients or its existing clients do not renew their contract, the growth of the business and cash flows will be adversely affected.
  • The company may not be able to sustain effective implementation of its business and growth strategy.
  • The company Promoters, Directors and Key Management Personnel have interest in the Company and its on subsidiaries, other than reimbursement of expenses incurred or remuneration.
  • The Company has experienced negative cash flow in the past and may continue to do so in the future, which could have a material adverse effect on its business, prospects, financial condition, cash flows and results of operations.
  • The company has not identified any alternate source of funding and hence any failure or delay on its part to mobilize the required resources or any shortfall in the Issue proceeds may delay the implementation schedule.
  • The company Promoters are not engaged in similar line of business, However, there can be no assurance that its Promoter or members of the Promoter Group will not compete with the company existing business.
  • The company insurance coverage may not be adequate to protect it against certain operating hazards and this may have a material adverse effect on its business.
  • The average cost of acquisition of Equity Shares by the company Promoters could be lower than the issue price.
  • The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • The company has not made any dividend payments in the past and its ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive covenants in its financing arrangements.
  • In case of any inability arise to source business opportunities effectively, Its may not achieve the company financial objectives.
  • The Issue price of the company Equity Shares may not be indicative of the market price of its Equity Shares after the Issue and the market price of the Equity Shares may decline below the issue price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • The Objects of the Issue for which funds are being raised, are based on the company management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Issue".
  • There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of the Management and its Board of Directors, though it shall be monitored by the company Audit Committee.
  • The company future funds requirements, in the form of fresh issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the shareholders depending upon the terms on which they are eventually raised.
  • The requirements of being a public listed company may strain its resources and impose additional requirements.
  • The company is exposed to the risk of delays or non-payment by its clients and other counter parties, which may also result in cash flow mismatches.
  • The company growth will depend on the ability to build its brand and failure to do so will negatively impact of the ability to effectively compete in this industry.
  • The company operations could be adversely affected by disputes with employees.
  • Interest rate fluctuations may adversely affect the Company's business.
  • Industry information included in this Draft Red Herring Prospectus has been derived from industry reports commissioned by it for such purpose. There can be no assurance that such third-party statistical financial and other industry information is either complete or accurate.
  • If the company is unable to source business opportunities effectively, Its may not achieve of the financial objectives.
  • The company inability to manage growth could disrupt the company business and reduce profitability.
  • The price of the company Equity Shares may be volatile, or an active trading market for its Equity Shares may not develop.
  • Expanding its Network.
  • Focusing on Increasing Process Services & consistency in operating practices.
  • Growing its business with existing clients with quality and efficient services.

Basilic Fly Studio Ltd IPO Promoter Holding

Pre Issue Share Holding 85.40%
Post Issue Share Holding 59.88%

Basilic Fly Studio Ltd IPO Subscription Status (Bidding Detail)

The Basilic Fly Studio Ltd IPO is subscribed - times on Sep 05, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - -

Basilic Fly Studio Ltd IPO Prospectus

Basilic Fly Studio Ltd IPO Listing Date

Listing Date 11 Sep 23
BSE Script 91726
NSE Symbol BASILIC
Listing In NSE - SME
ISIN INE0OCC01013
IPO Price ₹97
Face Value ₹10

Basilic Fly Studio Ltd IPO Registrar

Purva Sharegistry (I) Pvt Ltd

Phone: +91-022-4961-4132/022-31998810
Email: support@purvashare.com
Website: www.purvashare.com

Basilic Fly Studio Ltd IPO Lead Manager(s)

  1. GYR Capital Advisors Pvt Ltd

FAQs on Basilic Fly Studio Ltd IPO

Basilic Fly Studio Ltd IPO, which opens for subscription from 01-Sep-2023 to 05-Sep-2023 has an issue size of ₹66.35 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Basilic Fly Studio Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Basilic Fly Studio Ltd IPO Opens for subscription from 01-Sep-2023 to 05-Sep-2023.

The lot size of Basilic Fly Studio Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹116400 and ₹116400 respectively.

Allotment date for Basilic Fly Studio Ltd is 11-Sep-2023 and refund of application amount (in case allotment is not received) will begin from 12-Sep-2023. If your allotment goes through, then shares will be credited in your Demat account by 13-Sep-2023.

The registrar for Basilic Fly Studio Ltd IPO is Purva Sharegistry (I) Pvt Ltd. You can check your IPO allotment status on the registrar's website.

The shares of Basilic Fly Studio Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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