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The scrip was listed at Rs 30, a premium of 25% over the initial public offer (IPO) price. The stock was frozen in its upper limit of 5% over its listing price.
The counter hit a high of Rs 31.50 and a low of Rs 28.50. About 14.40 lakh shares of the company changed hands at the counter.
The issue opened for bidding on 2 August 2024 and it closed on 6 August 2024. The price band of the IPO was set at Rs 22 to Rs 24 per share. The issue was subscribed 180.31 times.
The IPO comprised fresh issue of 78,00,000 shares. The promoter and promoter group shareholding diluted to 68.27% from 93.02% pre-IPO.
The company intends to utilize the net proceeds for capital expenditure requirements towards purchase of equipment and software, prepayment of all or certain borrowings availed by company and for general corporate purpose.
Ahead of the IPO, Picturepost Studios on 1 August 2024, raised Rs 5.29 crore from anchor investors. The board allotted 22.80 lakh shares at Rs 24 per share to 2 anchor investor.
Picturepost Studios is a creative and innovative post-production company specializing in film editing, computer generated imagery (CGI), visual effects (VFX), video conversion, grading, film and commercial mastering of channels and digital platforms. The company offers the services Offline Editing Services, Computer Generated Imagery, Mastering and Quality Check, Visual Effects (VFX), Color Grading and Creative Editorial. As on 30 April 2024, company has 105 employees in various departments.
The company recorded revenue from operations of Rs 21.97 crore and net profit of Rs 2.92 crore for the period as on 31 March 2024.
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