Basilic Fly Studio Limited IPO - Review, Valuation, Date, & GMP

Basilic Fly Studio Limited - Complete Overview

Established in 2016, Basilic Fly Studio Limited holds expertise in the VFX industry, consistently delivering top-tier VFX solutions for movies, television, web series, and commercials.

Headquartered in Chennai, India, the company boasts subsidiaries in Canada and the UK, dedicated to crafting captivating visual experiences for a global audience.

Basilic Fly Studio offers an extensive range of VFX services, including:
1. Final Compositing and Rotoscopy
2. Camera/Body Tracking and Rotomation/Object Tracking
3. Paint And Preparation
4. Previs or Previsualization
5. Computer Graphics
6. Onset Supervision

The company's primary revenue is generated through collaborations with VFX companies and studios. Basilic Fly Studio has garnered prestigious accolades such as "Company of the Year (Creative Media Solution 2022)" at the India Icons Awards, "Most Prominent Company 2023 (Animation Category)" at Nation Wide Awards, and recognition for "Excellence in VFX and Post Production" at the Times Business Awards 2023.

The company has successfully completed over 900 movie projects and 2,000 series projects. It employs more than 500 skilled workers and has offices established in Pune, London, and Vancouver.

The company generated a revenue of Rs. 7,895.15 in the financial year 2023.

 

What does the company do?

Basilic Fly Studio Limited excels in the VFX industry and has provided high-quality VFX solutions for movies, TV shows, web series, and commercials.

 

 

IPO Overview

The Basilic Fly Studio IPO dates are set from September 1 to September 5, 2023. The upcoming SME IPO is projected to be listed on September 13, 2023, at NSE SME. 

This IPO is classified as a Book Built Issue, and the registrar of the IPO is Purva Sharegistry India Pvt. Ltd.

 

Basilic Fly Studio Limited IPO timetable (Tentative)

EVENTS	DATE
IPO Opening Date	1 September 2023
IPO Closing Date	5 September 2023
IPO Allotment Date	8 September 2023
Refund initiation	11 September 2023
IPO Listing Date	13 September 2023

 

Basilic Fly Studio Limited IPO Details 

IPO Opening & Closing Date	1 September to 5 September 2023
Face Value	Rs.10 per share
Issue Price	Rs.92 to Rs.97 per share
Lot Size	1200 Shares
Price of 1 Lot	Rs. 116,400
Issue Size	6,840,000 Shares (aggregating up to Rs.66.35 Cr)
Offer for Sale	600,000 shares of Rs.10 (aggregating up to Rs.5.82 Cr)
Fresh Issue	6,240,000 Shares (aggregating up to Rs.60.53 Cr)
Listing at	NSE SME
Issue Type	Book Built Issue IPO
Registrar	Purva Sharegistry India Pvt. Ltd.

 

Basilic Fly Studio Limited IPO Lot Details 

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
Minimum Lot Investment (HNI)	2 Lot

 

Basilic Fly Studio Limited IPO Reservation

Institutional Share Portion	50%
Non-institutional Share Portion	15%
Retail Share Portion	35%

 

Company Financial

Amount in Lakhs

Period	FY 22	FY 23
Total Assets	1571.08	5315.33
Total Revenue	2528.78	7895.15
PAT	90.10	2774.02
Net Worth	394.16	3166.98
Reserve & Surplus	274.17	1466.98
Total Borrowings	413.23	427.08

 

Geographical distribution of the revenue

Amount in Lakhs

Location	FY 21	FY 22	FY 23
Chennai, India	1727.07	2387.57	7022.22
Pune, India	-	-	-
Vancouver, Canada	-	128.27	844.52
London, UK	-	-	-
Total	1727.07	2515.84	7866.74

 

Objective of the Issue

The company will employ the raised funds to achieve the following objectives:

• Allocating funds for setting up a Studio/Facility in Hyderabad and Salem.
• Enhancing infrastructure to reinforce the existing company facilities/offices in Chennai and Pune.
• Investing in the subsidiaries through equity to expand workspace by acquiring new office space in London and fortifying the existing facilities/offices in Vancouver.
• Addressing general corporate purposes.
• Covering issue-related expenses.

 

Promoters and Management of Basilic Fly Studio Limited

Mr Balakrishnan and Ms Yogalakshmi S are the promoters of the company.

Pre-issue Promoters Holding	85.42%
Post-issue Promoters Holding

 

Peer Comparison

The listed peers mentioned in the Basilic Fly Studio DRHP are as follows:

Company Name	EPS (in Rs. per share)	P/E Ratio	PAT (in Rs. Lakhs)
Basilic Fly Studio Limited	16.32	-	2774.02
Prime Focus Limited	8.50	9.29	19449.10
Phantom Digital Effects Limited	15.97	9.59	1619.56

 

IPO's Valuations

The Basilic Fly Studio IPO share price range is set between Rs.92 and Rs.97 per share, with the company's EPS standing at Rs.16.32. By selecting the higher end of the issue price for IPO valuation, the PE ratio is approximately 5.94 for the shares.

 

Dividend Policy

The company has not adopted any dividend policy in the past and the future dividend policy also depends on the financial performance of the company.

 

IPO's Strengths

• Possessing advanced technology capabilities.
• Led by experienced promoters and a technically proficient operations team.

 

IPO Weaknesses

• The company has encountered delays in adhering to certain statutory provisions of the Companies Act.
• Operating within the dynamic VFX market, the company is susceptible to rapid shifts in clients' preferences and trends, relying heavily on the audience's reception of content.
• The company is subject to foreign exchange control regulations and the inherent risk of currency fluctuations associated with foreign currency transactions.
• There are unresolved litigations involving the company, its promoters, and directors.
• A substantial portion of the company's revenue hinges on collaborations with VFX companies and studios.
• The company necessitates various statutory permits, licenses, and approvals for its operational activities.
• The company operates in an industry that is highly sensitive regarding the maintenance of project and content secrecy.
• The company has previously experienced negative cash flow.

 

 

IPO GMP Today

Latest GMP of Basilic Fly Studio IPO is Rs.150.

 

Conclusion

The Basilic Fly Studio IPO presents a promising opportunity for investors to venture into the VFX industry. With evident growth in both revenue and profit, seasoned investors might consider applying for the IPO after conducting a thorough analysis for optimal investment outcomes.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

 

To Read the Prospectus of the Company Click Here to Download the DRHP.

 

 

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