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VELS Film International SME IPO Day 1: Check subscription status and issue price


The SME IPO offering size from VELS Films International Ltd is 3,408,000 equity shares valued at Rs. 33.74 Cr. The subscription period for this SME IPO began on March 10 and will finish on March 14, 2023. The issue price for this SME IPO, in addition to the lot size of 1200 shares, is fixed at 99 per share and the face value of the equity share is 10 per share.

0.06 times the VELS Film International IPO were subscribed on Day 1. By March 10, 2023, the public offering had received 0.01 times as many retail subscriptions as well as 0.11 times as many NII subscriptions. The VELS Film International IPO is scheduled to debut on Mar 22, 2023, at NSE SME, and the VELS Film International IPO allotment status is anticipated on or around Mar 17, 2023.

On Day 1, the total number of shares bid for the retail category was 22,800 against the number of shares offered of 16,17,600. Whereas, for the Non-institutional investors(NII) category, the total number of shares bid was 1,76,400 against the number of shares offered of 16,17,600. The company’s promoter is Dr. Ishari Kadhirvelan Ganesh, and Cameo Corporate Services Ltd is the registrar of the VELS Film International IPO.

Commenting on the commencement of VELS Films International IPO, Manish Khanna, Co-founder at Unlisted assets said “Vels Film International Limited is in the business of film production and selling of film rights. The company is a member of the South Indian Film Chamber of Commerce. Vels Film International Limited has lined up six film projects under its fold and all are set to release in FY2023-24. On a consolidated basis, the company has recorded a turnover of Rs.27.18 crores with a net profit of Rs.3.38 crores in FY22. For H1 of FY23, the company recorded a turnover of Rs.47.19 crores and a net profit of Rs.1.34 crores. The revenue and the profit are volatile in this business, which is reflected in the financials of the company.”

“The subscription for the IPO started on 10th March 2023 and will close on 14th March 2023. As on date 10th March 2023, the company has received a subscription of 0.01 times in the retail category and 0.11 times subscription in other categories, getting a total of 0.06 times subscription. There is no Grey Market Premium (GMP) activity in this company, as on 10th March 2023,” Manish Khanna further added.

Five companies—Global Surfaces, Labelkraft Technologies Ltd, Quality Foils (India) Limited, Bright Outdoor Media Ltd., and Nirman Agri Genetics Ltd.—would launch their initial public offerings (IPOs) next week.

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