PNN
Chennai (Tamil Nadu) [India], September 20: Basilic Fly Studio Limited (BFS), a pioneering force in the world of visual effects (VFX), has successfully raised ₹84.99 crore via a Qualified Institutional Placement (QIP). The company issued 20.25 lakh equity shares, priced at ₹419.72 per share, inclusive of a premium of ₹409.72.
Fundraising Highlights:
-Number of shares allotted: 20,25,000 equity shares
-Face value: ₹10 per share
-Issue price: ₹419.72 per share (including a premium of ₹409.72)
-Discount: 5% to the floor price as per SEBI ICDR Regulations
-Total fund raised: ₹84.99 Cr
Institutional Allottees Receiving More Than 5% of Total QIP Allotment :
-Astorne Capital VCC - Arven: 2,38,500 shares (11.78%)
-Vikasa India EIF I Fund - Incube Global Opportunities: 1,90,800 shares (9.42%)
-Astorne Capital VCC - Alpha A2: 1,43,100 shares (7.07%)
-Rajasthan Global Securities Pvt Ltd: 1,43,100 shares (7.07%)
-Dovetail India Fund - Class 8 Shares: 1,20,000 shares (5.93%)
-Moneywise Financial Services Pvt Ltd: 1,19,400 shares (5.90%)
-North Star Opportunities Fund VCC - Lighthouse Capital: 1,19,100 shares (5.88%)
-Beacon Stone Capital VCC - Beacon Stone I: 1,19,100 shares (5.88%)
The proceeds from the QIP will strengthen the company's balance sheet, enhance financial flexibility, and support its strategic priorities. These include investing in advanced VFX technologies, expanding delivery capabilities, building creative talent, and pursuing growth opportunities in international markets. The company remains committed to consolidating its leadership in the global VFX industry by driving innovation, operational excellence, and long-term value creation.
Commenting on this, Mr. Balakrishnan, Managing Director & CEO of Basilic Fly Studio Limited said
"The successful completion of this QIP provides us with the financial strength to accelerate our global growth strategy. We are encouraged by the overwhelming response, particularly with 57% participation from foreign portfolio investors. With this support, we plan to strengthen our teams in London and Paris, while transitioning select roles to India to further enhance efficiency and margins. The proceeds will also enable us to expand our infrastructure, including render farms and advanced AI-driven technologies, positioning us to take on large-scale projects with global studios such as Netflix, Warner Brothers, Sony, and Paramount. The strong institutional participation reflects their confidence in our vision, execution capabilities, and commitment to long-term value creation."
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