Baweja Studios Limited has unveiled the price band for its upcoming Initial Public Offering (IPO), setting it between ₹180 to ₹190 per equity share with a face value of ₹10. The subscription for the Baweja Studios IPO is scheduled to open on Monday, January 29, and conclude on Thursday, February 1. Anchor investor allocation is set to take place on Thursday, January 25.
The floor price, standing at 17 times the face value, contrasts with the cap price at 18 times the face value. Based on the diluted Earnings Per Share (EPS) for fiscal 2023, the price-to-earnings ratio is 21.71 times at the floor price and 22.99 times at the cap price. The issue lot size is fixed at 800 equity shares, with multiples available thereafter.
The IPO reserves not more than 50 percent of shares for qualified institutional buyers (QIBs), not less than 15 percent for non-institutional investors (NIIs), and a minimum of 35 percent for retail investors.
The tentative basis of allotment for Baweja Studios IPO shares is set for finalization on Friday, February 2, with refunds scheduled to begin on Monday, February 5. Allottees can anticipate the shares being credited to their demat accounts on the same day following the refund. The anticipated listing date on both BSE and NSE is Tuesday, February 6.
The company’s promoters include Harjaspal Singh Baweja, Paramjit Harjaspal Baweja, Harman Baweja, and Rowena Baweja.
Established on March 16, 2001, Baweja Studios Limited is a production company known for Hindi and Panjabi film projects like Chaar Sahibzaade, Love Story 2050, Qayamat, and Bhaukaal. Engaged in trading movie rights, the company acquires rights from producers, selling them to exhibitors and streaming platforms.
As of June 2023, Baweja Studios has successfully completed 22 projects, with six films in production and seven in pre-production. The company, dedicated to producing technology-based commercial films, aims to redefine storytelling by integrating technological advancements. In addition to script research and development, Baweja Studios manages end-to-end content production, intellectual property creation, and rights monetization.
The IPO, valued at ₹97.20 crore, comprises a fresh issue of 40 lakh shares amounting to ₹72.00 crore and an offer for sale of 14 lakh shares totaling ₹25.20 crore. The net proceeds from the IPO will be channeled towards working capital requirements and general corporate purposes.
Fedex Securities Pvt Ltd serves as the book-running lead manager for the Baweja Studios IPO, with Skyline Financial Services Private Ltd acting as the registrar for the issue. Investors are encouraged to thoroughly assess the IPO prospectus and financials before making informed investment decisions in this cinematic venture.
