Basilic Fly Studio Ltd. makes a strong debut on the bourses with scrip got listed at Rs 271.00 on the Bombay Stock Exchange, a 179.38 per cent premium to its issue price of Rs 97.00. On the National Stock Exchange, the stock was listed at Rs 271.00.
The company, which raised 0.68 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 68.40 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Sep 01 to Sep 05.
Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the NSE.
The company 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 managers & Purva Sharegistry (India) Pvt. Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark NSE Nifty closed trade at 19,819.95, up 92.90 points, or 0.47 per cent.