This stock surged 368% in two years: Should you invest?
What's the story
Basilic Fly Studio, a company listed on the NSE SME platform, has given investors massive multibagger returns since its debut. The stock has skyrocketed by an incredible 368% in two years. From an issue price of ₹97, the shares now trade at ₹454.05 each. However, despite this stellar performance over the long term, Basilic Fly Studio's stock has been quite volatile over the past year.
Fluctuations
Stock witnessed sharp swings in the past year
In the past year, Basilic Fly Studio's stock has corrected over 20%. The shares hit a 52-week high of ₹657.60 in September 2024 and a low of ₹223.15 in February this year. The stock has also witnessed sharp swings on a monthly basis with an increase of 5% so far in August after nearly 4% rise in July.
Market entry
IPO received overwhelming response
Basilic Fly Studio's IPO was open for subscription from September 1-5, 2023, and got listed on the NSE SME exchange on September 11. The shares debuted at ₹271, a 179% premium over the issue price of ₹97. The IPO received a strong response from investors, getting oversubscribed by 286.61 times with bids for 146.06 crore stocks against an issue size of 50.96 lakh shares.
Business expansion
Major order win worth ₹29cr
Earlier this week, Basilic Fly Studio had announced a major order win worth ₹29.71 crore from Netflix. The deal entails high-complexity VFX work related to an upcoming premium project. This comes after the company's strong performance in Q1 FY26 when it received ₹150 crore worth of new orders from clients including Netflix, Disney, and HBO.