Baweja Studios IPO: 21% subscription to issue on first day so far; Check GMP and other important details of SME IPO

Baweja Studios IPO: The initial public offering (IPO) of Baweja Studios opened for public subscription on January 29. The Baweja Studios IPO is an SME IPO and will close on February 1st.

The production company's public offer has so far received a muted response from investors on the first day of the bidding process.

Let's check Baweja Studios IPO GMP, subscription status and other important details today.

Baweja Studios GMP IPO today

Baweja Studios IPO GMP today or gray market premium today is ₹25 per share. This suggests that Baweja Studios shares were trading at a premium of 13.89% ₹205 per piece on the GMP compared to the issue price of ₹180 per share.

Also Read: IPO frenzy: 16 companies came to Dalal Street in January, six more to list; A look at top performers

Baweja Studios IPO Subscription Status

Baweja Studios' IPO has been subscribed 21% on the first day so far as the issue received bids for 10.27 lakh shares against 47.85 lakh shares in the offer, according to data available till 3 pm.

The public issue has so far been subscribed 0.35 times in the “Retail” category and 0.10 times in the “Non-Institutional Investors” (NII) category.

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Baweja Studios IPO details

The Baweja Studios IPO began subscription on January 29 and will close on February 1.

Baweja Studios IPO size is ₹97.20 crore, which is a combination of fresh issue of shares worth Rs 40 lakh ₹72 crore and offer for sale (OFS) of a total of 14 lakh shares ₹25.20 crore. The IPO price range is ₹170 tonnes ₹180 per share.

The lot size for the IPO is 800 shares and the minimum investment amount required from private investors is ₹144,000.

The Company has reserved not more than 50% of the shares of the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Institutional Investors (NII) and not less than 35% of the offering is reserved for retail investors.

Read here: Baweja Studios IPO: Price range set at ₹170-180; Deadlines, lot size and other details

Allotment of Baweja Studios' IPO is expected to be completed on Friday, February 2. Baweja Studios shares will be listed on the NSE SME with a provisional listing date set on February 6.

Fedex Securities Pvt Ltd is the book running lead manager of the Baweja Studios IPO while Skyline Financial Services Private Ltd is the IPO registrar.

The Company intends to use the net proceeds from the offering to meet working capital requirements and general corporate purposes.

The organizers of Baweja Studios are Harjaspal Singh Baweja, Paramjit Harjaspal Baweja, Harman Baweja and Rowena Baweja.

Baweja Studios is a production company that produces Hindi and Punjabi films. The company is also active in trading film rights.

Read all the news about the IPO here

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