Picture Post Studios IPO subscribed 266 times on last day, NIIs steal the show; check allotment date

Picture Post Studios IPO subscription closed with bumper demand on August 6, the last day of bidding. The NSE SME IPO was booked 266.67 times.

The VFX and CGI service provider’s initial public offering (IPO) received bids for more than 138.56 crore shares compared to 51.96 lakh shares on offer on the closing day.

The NSE SME issue was subscribed 390 times in the Non-Institutional Investors (NIIs) category, with applications for 43.52 crore shares against 11.16 lakh shares set aside for the segment.

Retail individual investors applied for over 80 crore shares against 25.98 lakh shares set aside for the category, booking the portion 308 times.

On the last day of subscription, the Qualified Institutional Buyers (QIB) placed bids for 14.99 crore shares against 14.82 lakh shares, booking their category 101.18 times.

Picture Post Studios IPO offer size, price band and total details

Picture Post Studios IPO is a book-building issue worth ₹18.72 crore. The public offer comprised an entirely fresh issue of 78 lakh shares. The IPO price band was fixed at ₹22 to ₹24 per share.

The subscription for IPO closed as of now. The IPO allotment status is likely to be finalised on August 7.

Shares of Picture Post Studios Limited are likely to be listed on the NSE SME platform on August 9.

Picture Post Studios Limited IPO registrar

Bigshare Services Private Limited is the registrar for the issue.

Shreni Shares Limited is the book-running lead manager for the Picture Post Studios IPO, and Shreni Shares is also serving as the market maker for the same IPO.

Picture Post Studios IPO objective

Picture Post plans to utilise the net Proceeds from the Issue to cover capital expenditures for acquiring essential equipment and software.

Additionally, the company plans to settle or reduce some or all of its existing borrowings and a significant portion allocated to support general corporate needs.

About Picture Post Studios IPO

Incorporated in 2019, Picture Post Studios Limited is a Mumbai-based company specializing in movie editing, CGI, visual effects (VFX), video conversion, grading, and mastering for films and commercials across various channels and digital platforms.

The company offers a comprehensive range of services, including offline editing, CGI, mastering and quality checks, VFX, colour grading and creative editorial work.