Identical Brains Studios IPO subscribed 200 times so far on Day 3: Check key dates, GMP, price band and key other details
SME IPO of Identical Brains Studios, which will close for public subscription on Friday, has been subscribed 200 times so far, driven by a robust demand from the market participants.
Around 11:30 am, the non-institutional investors (NIIs) subscribed to the issue over 65.6 times while the retail investors applied for 36.55 crore shares, attracting nearly 1.83 lakh bid applications.
Meanwhile, the qualified institutional buyers (QIBs) had made 16 bid applications, subscribing for 1.22 crore (1,22,88,000) shares.
The issue will close for public subscription on December 20 and the shares of the company are proposed to be listed on the NSE SME platform.
The IPO is completely a fresh equity sale of 36.94 lakh shares and through the issue, the company plans to raise Rs 20 crore. The net proceeds from the public offer will be used to fund capital expenditure towards the renovation of the existing Andheri office and studio, the establishment of a new branch office in Lucknow, incremental working capital requirements and general corporate purposes.
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