Picture Post Studios IPO: The initial public offering (IPO) of Picture Post Studios Ltd, which opened for public subscription on Friday, is witnessing the second day of bidding. On the first day of bidding, the IPO received just 6.24 times subscription. Till 4:13 pm on the second day of bidding on Monday, the 18.72-crore IPO received a 47.44 per cent subscription, garnering bids for 24,64,92,000 shares as against 51,96,000 shares on offer.
According to the latest data, the retail quota received a 79.56 times subscription, while the non-institutional investors category also got a 35.66 times subscription.
The Picture Post Studios IPO will be closed on August 6. Its price band was fixed at Rs 22-Rs 24 apiece. The share allotment will likely be finalised on August 7, while its listing will take place on the NSE SME on August 9.
Picture Post Studios GMP Today
According to market observers, unlisted shares of Picture Post Studios Ltd are trading Rs 10 higher in the grey market than its issue price. The Rs 10 grey market premium or GMP means the grey market is expecting a 41.67 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
The Rs 10 GMP on Monday is significantly lower than the Rs 17 premium recording in the morning.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Picture Post Studios IPO: More Details
Picture Post Studios Ltd, established in 2019, is a company that specialises in movie editing, computer-generated imagery (CGI), visual effects (VFX), video conversion, grading, and mastering films and commercials for various channels and digital platforms.
The company offers a wide range of services for the entertainment industry. It specialises in visual effects, post-production, color grading, motion design, and creating captivating visual experiences for global audiences.
Picture Post Studios IPO is entirely a fresh issue of 78 lakh shares.
Investors need to apply for a minimum of 6,000 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,44,000 [6,000 (lot size) x Rs 24 (upper price band)].
Shreni Shares Limited is the book running lead manager of the Picture Post Studios IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Picture Post Studios IPO is Shreni Shares.
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