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The exceptionally huge interest in SME IPOs comes even as mainboard offers are doing well and also despite the inherent risks associated with this segment, such as limited disclosure and lack of liquidity.
Basilic Fly Studio IPO subscribed 286.6 times; allotment date on September 8.
The IPO, which opened on September 1, comprises a fresh equity issue of up to Rs 60.5 crore and an offer for sale (OFS) of 6 lakh shares. The overall subscription stood at 202 times so far on the final day of the bidding process. The IPO, which is priced in the range of Rs 92-97, closes today.
According to NSE data, the issue has received bids for 56 crore shares worth Rs 5,507 crore on the second day against just 50.96 lakh shares on offer.
Basilic Fly Studio IPO | The IPO comprises a fresh issuance of shares worth Rs 60.53 crore and an offer for sale of 6 lakh shares worth Rs 5.82 crore by promoters Balakrishnan and Yogalakshmi S.