Basilic Fly Studio Secures ₹85 Crore in Major QIP Boost

Basilic Fly Studio Limited successfully raises nearly ₹85 crore through a Qualified Institutional Placement, issuing over 20 lakh shares. The funds will bolster the company's VFX capabilities and international growth, with a significant portion of investments coming from foreign portfolio investors.

Chennai, Tamil Nadu: Basilic Fly Studio Limited (BFS), a leading name in visual effects (VFX), has announced the successful raising of ₹84.99 crore through a Qualified Institutional Placement (QIP). The company allotted 20.25 lakh equity shares at ₹419.72 each, which includes a premium of ₹409.72 per share.

This significant fundraising effort saw shares allotted to key institutional investors, with Astorne Capital VCC and Vikasa India EIF I Fund among the top recipients. The funds will strengthen BFS's balance sheet, enhance financial flexibility, and support strategic priorities, including investment in cutting-edge VFX technology and expansion in international markets.

CEO Balakrishnan expressed confidence in accelerating global growth, highlighting 57% foreign investor participation. The proceeds will enhance BFS's capabilities with new AI-driven technologies, bolster teams in London and Paris, and capitalize on opportunities with major studios like Netflix and Warner Brothers.