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Basilic Fly Studio Limited IPO details
Founded in 2016, Basilic Fly Studio Limited stands as a prominent visual effects (VFX) studio headquartered in Chennai, India, and boasts subsidiary branches in Canada and the UK. The studio’s expertise spans a diverse spectrum of services, encompassing Final Compositing and Rotoscopy, Camera and Body Tracking, Rotomation and Object Tracking, Paint and Preparation, Previsualization (Previs), Computer Graphics, as well as Onset Supervision. Bolstered by a workforce exceeding 500 exceptionally skilled individuals, the company has solidified its footprint in Pune, London, and Vancouver.
Basilic Fly Studio Limited IPO Issue Details
Issue will be open on 1st September and close on 5th September 2023.
Objectives of the issue:
- Allocation of funds for establishing a Studio/Facility in Hyderabad and Salem.
- Allocation of funds to enhance the infrastructure, further reinforcing the existing facilities/offices of the company in Chennai and Pune.
- Investment in subsidiaries through equity to expand workspace, including acquiring new office space in London and fortifying the existing facilities/offices in Vancouver.
• Issue Size : 68,40,000 Shares for Rs. 66.35 Cr.
• Face Value: Rs. 10
• Offer price: Rs. 92 to 97
• Minumum Lot Size : 1200 Share
• Listing on : NSE SME
• Book Running Lead Manager : GYR Capital Advisors Private Limited
• Registrar : Purva Sharegistry India Pvt Ltd
• Promoter : Mr. Balakrishnan and Ms. Yogalakshmi S are
• Market Cap: Rs. 225.43 Cr.
• Pre Issue Promoter Holding : 85.42%
• Issue constitutes 29.43% of the post issue paid up capital
• Average of last 3 Yrs. EPS Rs. 11.72 & RONW : 53.30%
• Pre IPO Eq. Capital Rs. : 17 Cr.
• Post IPO Eq. Capital Rs. 23.24 Cr.
• Pre IPO : P/BV Ratio 5.21 (NAV : 18.63)
• Post IPO asking P/E on fully diluted equity : 8.28
• BRLM’s Performance :This is 16th Issue from the same Book Running Lead Manager in last 3 years.
with premium
Financial reports and details can be accessed from company website here
Also read: Details of PPF account in SBI
Basilic Fly Studio Limited IPO risks
- The promoters’ average cost of acquiring equity shares is Rs. 0.00 and Rs. 0.60 per share, while the offer price for the shares ranges from Rs. 92 to Rs. 97 per share.
- The company issued bonus shares in the ratio of 16:1 in March 2023, prior to filing the DRHP (Draft Red Herring Prospectus).
- The company operates in the entertainment industry, which carries a substantial level of risk.
- A significant portion of the company’s revenue depends on VFX companies and studios.
- Historically, the company has had negative cash flow.
Basilic Fly Studio Limited IPO review and analysis
- The company has showcased outstanding financial performance in both FY22 and FY23.
- In terms of valuation, with a PE (Price-to-Earnings) ratio of 8.28, the issue appears reasonably priced when compared to its industry peers.
- Given its robust track record, impressive credentials, expansive market presence, and promising future prospects, investors might consider applying for potential short-term rewards or benefiting from listing gains.
