GAGA Share Market News

[hfe_template id='11223'] [ad_1] Shares of VFX firm Identical Brains Studios got listed on NSE SME platform on Thursday at Rs 95, which reflects an impressive premium of 76% against its IPO issue price of Rs 54. The SME IPO, which opened for subscription on December 18, ended on December 20. The company raised Rs 20 crore through the fundraising exercise on the NSE SME platform. Identical Brains Studios is a TPN audited visual effects (VFX) studio, offering comprehensive suite of VFX services in diverse range of projects such as films, web series, TV series, documentaries, and commercials. According to RHP, Identical Brains intends to utilise Rs 51.78 lakh of the net proceeds from the IPO to fund capital expenditure towards the renovation of the existing office and studio in Andheri. Also read | Sensex forecast to conquer fresh record high of 90,000 in 2025: ETMarkets Poll Besides, it plans to invest Rs 2.86 crore to fund Colour Grading Digital Intermediate (DI) and Soun...

[hfe_template id='11223'] [ad_1] The SME IPO of Identical Brains Studios, which will close for public subscription on Friday, has been subscribed 200 times so far, driven by a robust demand from the market participants. Around 11:30 am, the non-institutional investors (NIIs) subscribed to the issue over 65.6 times while the retail investors applied for 36.55 crore shares, attracting nearly 1.83 lakh bid applications. Meanwhile, the qualified institutional buyers (QIBs) had made 16 bid applications, subscribing for 1.22 crore (1,22,88,000) shares. The issue will close for public subscription on December 20 and the shares of the company are proposed to be listed on the NSE SME platform. The IPO is completely a fresh equity sale of 36.94 lakh shares and through the issue, the company plans to raise Rs 20 crore. The net proceeds from the public offer will be used to fund capital expenditure towards the renovation of the existing Andheri office and studio, the establishment o...