© Reuters.
Inspire Films, a company offering television and digital content production, saw an impressive debut on Thursday with its initial public offering (IPO) opening at ₹67 per share. This represents a significant increase from the issue price of ₹59, set within a price band of ₹56-₹59 per share.
The IPO, which involved a fresh issuance of 35.98 lakh shares, was oversubscribed by a remarkable 129.08 times during the subscription period that ran from September 25-27. This robust demand from investors led to the company raising ₹21.23 crore (INR100 crore = approx. USD12 million).
Promoted by Yash Arabinda Patnaik and Beyond Dreams Entertainment Private Limited, Inspire Films’ IPO was managed by Narnolia Financial Services Ltd. Key investors such as Rajasthan Global Securities Private Limited played a crucial role in contributing to the success of the IPO.
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