Harman Baweja's Production House Baweja Studios To Take A Big Jump With Its IPO Debut; Price Band Set At Rs. 170-180

Harman Baweja already has multiple projects on the horizon, and there is more exciting news coming in. Harman Baweja's Baweja Studios Ltd. (the company), which has been one of the most prominent and successful production houses in Bollywood for more than 30 years, is set for a new journey.

The Superhit production house, which has produced many hits and acclaimed films, is all set to debut its IPO (initial public offerings). For the uninitiated, a price band is a value-setting method in which a seller indicates an upper and lower limit for where buyers are able to bid.>Baweja Studios Limited (the “Company”), one of the key players in the media and entertainment sector with a proven track record of producing high-quality content, proposes to open its Initial Public Offering (IPO) of up to 54,00,000 Equity Shares (“Offer”) on Monday, January 29th, 2024, and the Bid/ Offer Closing Date will be Thursday, February 1st, 2024. The Anchor Investor Bidding Date is one working day prior to the Bid/Offer Opening date, that is, Thursday, January 25, 2024.

The Price Band of the offer has been fixed from Rs. 170 per Equity Share to Rs. 180 per Equity Share. Bids can be made for a minimum lot size of 800 Equity Shares and multiple lot sizes of 800 Equity Shares thereafter. The company’s Initial Public Offering comprises the fresh issuance of Equity Shares up to 40,00,000 and an offer for sale of up to 14,00,000 Equity Shares by Harjaspal Singh Baweja (Harry Baweja).

Talking about the profits, the company has witnessed a growth in revenue of over three times from fiscal 2021 to fiscal 2023, from Rs. 1944.54 lakhs to Rs. 7379.05 lakhs. The PAT of the company for fiscal 2023 was Rs. 796.91 lakhs, and for the half year ended September 30, 2023, it was Rs. 435.33 lakhs.Excited about the company’s big IPO, Harman Baweja, MD of Baweja Studios Limited, shared, “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. The capital raised will empower us to explore new horizons, nurture talent, and continue delivering exceptional content to a global audience."

With many hit films in the past, Harman Baweja's Baweja Studios boasts a strong lineup, with seven films scheduled for release in the upcoming months, along with six projects in diverse genres currently in the pre-production phase. These projects cut across Theatrical Films, Digital Films, Web Series, Regional Films, and Animation. Additionally, the company holds a substantial repository of scripts, book rights, life rights, remake rights, and more, all at different stages of development.

The impending IPO marks a crucial milestone in the company's growth journey. The funds generated from the IPO will be deployed to address working capital requirements and general corporate purposes. This strategic move is anticipated to further propel the company's expansion and development.