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Baweja Studios plans to raise up to Rs. 97.20 crore from public issue

Baweja Studios Ltd, a legacy content production studio known for its dynamic quality of film-making and innovative storytelling practice is planning to raise up to Rs. 97.20 crore from its SME public issue. The company has received approval to launch its public issue on NSE Emerge Platform of National Stock Exchange. The public issue open for subscription on January 29 and closes on February 1. The Proceeds of the public issue will be utilised to fund company's expansion plans including meeting working capital requirements and general corporate purposes. Fedex Securities Pvt Ltd is the book running lead manager of the issue.

The initial public offering of 54 lakh equity shares of face value Rs. 10 each comprises of a fresh issue of 40 lakh equity shares and an offer for sale of 14 lakh equity shares. Company has fixed price band of Rs. 170-180 per equity share for the public issue (including a premium of Rs. 160-170 per equity share). The company plans to raise up to Rs. 97.20 crore from the public issue at the higher price band of Rs. 180 per share. Minimum lot size for the application is 800 shares which translates in to investment of Rs. 1.44 lakh per application. Retail investor and HNI quota for the IPO is kept at not less than 35% and 15% of the issue respectively while QIB quota is kept at a maximum 50% of the issue. 

Baweja Studios, founded by Harry Baweja and his wife, Pammi Baweja in the year 2001, is known for its dynamic quality of film-making and innovative storytelling practices. As a production company, Baweja Studios Ltd produced many Hindi and Panjabi films such as Chaar Sahibzaade, Love Story 2050, Qayamat and Bhaukaal. The company is also in the business of trading movie rights as they purchase rights from producers and sell them to exhibitors and streaming platforms. As of June 2023, the company has completed 22 projects, with 6 films in production and 7 in pre-production. The Promoters have a long history of creating Hindi and Punjabi films backed by an extensive film library. 

"We are thrilled to embark on this exciting journey with our stakeholders and investors. The IPO is a testament to our commitment to pushing creative boundaries and setting new production standards," said Harman Baweja, of Baweja Studios Limited. "The capital raised will empower us to explore new horizons, nurture talent, and continue delivering exceptional content to a global audience."

Baweja Studios has also diversified into various areas including digital films, web series, animation films, Punjabi films, advertisement films, and music videos. Company’s upcoming movie projects include – CAPTAIN INDIA starring Kartik Aaryan, TIGERRR starring Tiger Shroff, ASHIANA starring Prithviraj Sukumaran, BHAGAT starring Arshad Warsi, MRS. Starring Sanya Malhotra among others. Company’s upcoming web series & animation projects include – SUPER V (Super Hero Adventure, inspired from Virat Kohli), CHIDIYA UDD starring Jackie Shroff and Sikandar Kher, VICTIMS starring Jaideep Ahlawat among others. 

Company has reported excellent operational and financial performance over years. The Company has witnessed a growth in revenue of over 3 times during the Fiscal 2021 to Fiscal 2023 from Rs. 19.45 crore in FY21 to Rs. 73.79 crore in FY23. Net Profit for FY23 was reported at Rs. 7.97 crore. As on 30th September 2023, Net Worth of the company at Rs. 24.22 crore and Reserves & Surplus at Rs. 9.79 crore. ROE of the company is 40.12%, ROCE at 52.55%. Shares of the company will be listed on NSE’s Emerge platform. 

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