Baweja Studios Announces IPO Price Band, Opens for Subscription on January 29

Baweja Studios Announces IPO Price Band, Opens for Subscription on January 29

VoM News Desk | January 18, 2024 | 01:23 PM IST | Breaking News | Follow on Google News

Baweja Studios Announces IPO Price Band, Opens for Subscription on January 29/Mint

Baweja Studios Announces IPO Price Band, Opens for Subscription on January 29

Baweja Studios Limited has set the price band for its upcoming Initial Public Offering (IPO) at ₹180 to ₹190 per equity share with a face value of ₹10. The IPO subscription window is scheduled to open on Monday, January 29, and will conclude on Thursday, February 1. Anchor investor allocation is slated for Thursday, January 25.

The floor price stands at 17 times the face value, while the cap price is 18 times the face value, resulting in a price-to-earnings ratio based on diluted EPS for fiscal 2023 ranging from 21.71 times to 22.99 times. The issue lot size is 800 equity shares, with multiples of 800 equity shares thereafter.

In terms of share allocation, the IPO reserves not more than 50% for Qualified Institutional Buyers (QIB), at least 15% for Non-Institutional Investors (NII), and a minimum of 35% for retail investors.

Baweja Studios, known for its focus on technology-based commercial films, has successfully completed 22 projects by June 2023, with 6 films in production and 7 in pre-production. The company aims to leverage technological advancements in storytelling, handling the entire content production process from script development to rights monetization.

Financially, Baweja Studios Limited witnessed an 86.2% increase in revenue and a significant 188.8% rise in Profit After Tax (PAT) between the fiscal years ending March 31, 2022, and March 31, 2023.

The ₹97.20 crore IPO comprises a fresh issue of 40 lakh shares (₹72.00 crore) and an offer for sale of 14 lakh shares (₹25.20 crore). The net proceeds from the IPO will be utilized for working capital requirements and general corporate purposes.

Fedex Securities Pvt Ltd is the book-running lead manager for the IPO, and Skyline Financial Services Private Ltd serves as the registrar for the issue.

VoM News Desk

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