Multibagger IPO: Ashish Kacholia buys stake in this SME stock during Q3. Share hits lifetime high

Shares of Basilic Fly Studio Limited witnessed huge buying interest during morning deals on Monday and hit a new lifetime high of 440 apiece on NSE. The SME stock that was listed on the NSE SME Emerge platform in September 2023 at a whopping 180 per cent premium against its upper price band of 97 per equity share, is one of the multibagger IPOs that the Indian has delivered in 2023.

Ashish Kacholia shareholding Probably, the Czar of small cap stocks Ashish Kacholia had an idea about the possible upside available in the stock despite the strong debut of this SME stock on . As per the latest shareholding pattern of Basilic Fly Studio Limited for the October to December 2023 quarter, Ashish Kacholia's name appears in the list of individual shareholders of the company.

The ace Indian investor is shown holding 5,47,200 shares of the company. As Ashish Kacholia's name was missing from the list of ace investors in the company in the Red Herring Prospectus filed by the small cap company at SEBI when the public issue was launched. It means Ashish Kacholia bought these shares in the post listing phase during the October to December 2023 quarter.

However, it is difficult to ascertain whether the ace investor bought all these shares in one shot or accumulated these shares in a calibrated manner. As per the exchange rules, a listed company is bound to share the names of individual shareholders of the company who own one per cent or more stake in the company.

However, these listed companies don't need to share details of buying and selling of stocks. Basilic Fly Studio share price history As mentioned above, Basilic Fly Studio shares listed on the NSE SME Emerge platform on 11th September 2023 at 271 apiece levels, delivering around 180 per cent listing premium to its allottees against its price band of 92 to 97 per equity share.

However, the SME stock didn't stop here only. After listing at 2701 apiece levels, this SME stock has surged to a new peak of 440 during Monday deals. So, the stock has further surged to the tune of 60 per cent against its listing price of 271 apiece. Livemint tops charts as the fastest growing news website in the world to know more.

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