On the final day of bidding on Friday, December 20, Identical Brains Studios Ltd.'s IPO saw robust demand from all types of investor .
The strong demand from Non-Institutional Investors (NIIs) drove the NSE SME issue's overall subscription rate of 544.36 times. Almost 134 crore shares were bid on during the IPO, out of the 24.6 lakh shares that were available.
Subscription across categories
With the retail category being booked 544.28 times, retail investors applied for over 66.83 crore shares against their reserved portion of 12.28 lakh stocks.
There were 5,28 lakh shares available, but the NIIs applied for more than 53.88 crore shares, resulting in a staggering 1,020.55 times subscription in the category.
The Qualified Institutional Bidders (QIBs) subscribed to their quota 187.36 times, placing bids for over 13.19 crore shares compared to the 7.04 lakh shares reserved for them.
GMP (Grey Market Price)
According to the Investorgain grey market premium (GMP) of Identical Brains Studios' shares are currently trading at Rs 50 per share, which is 92.59 per cent higher than the issue price of Rs 54, suggesting a listing price of Rs 104 per share.
IPO size and structure
The IPO of Identical Brains Studios is a book-built offering worth Rs 19.95 crores. This 36.94 lakh share issue is completely new.
36,94,000 shares are available in the IPO for Identical Brains Studios. QIB received 7,04,000 (19.06 per cent), NII received 5,28,000 (14.29 per cent), RII received 12,28,000 (33.24 per cent), and Anchor investors received 10,48,000 (28.37 per cent).
Price band & minimum bid
The IPO price range for Identical Brains Studios is Rs 51 to Rs 54 per share. A minimum lot size of 2000 is required for an application.
Retail investors are required to invest a minimum of Rs 1,08,000. For HNI, a minimum investment of two lots comprising of 4,000 shares is required, which comes to Rs 2,16,000.
Lisiting and subscription period
The allocation for the Identical Brains Studios initial public offering is anticipated to be finalized. The tentative listing date for Identical Brains Studios' IPO is set for Thursday, December 26, 2024, on the NSE SME.
The bidding for Identical Brains Studios' initial public offering (IPO) began on December 18, 2024, and ended on December 20, 2024. On Monday, December 23, 2024.
Utilisation of IPO proceedings
The Identical Brains Studios has suggested directing the net proceeds of the offering toward a number of strategic goals, such as capital expenditures for remodeling its current Andheri, Mumbai, office and studio and establishing a Color Grading Digital Intermediate (DI) and Sound Studio.
The money raised will also be used by Identical Brains Studios to build a new branch office in Lucknow and upgrade its infrastructure by purchasing computers, storage devices, and software to fortify its existing facilities.
Additionally, some of the money will be utilized for general business needs and other working capital requirements.
