Hyderabad: Identical Brains Studios (“IBS” or “The Company”), a VFX company known for its high-quality work in the film and entertainment industry, announced that its initial public offering (IPO) will open for subscription on Wednesday, December 18, 2024. The anchor portion will be opened on Tuesday, December 17, 2024, and the issue will conclude on Friday, December 20, 2024. The company intends to raise ₹19.95 crores from the offering and aims to be listed on the NSE Emerge platform. The price band for the issue has been fixed at ₹51-54 per share, and the lot size will be 2,000 equity shares.
Socradamus Capital Private Limited is the sole Book Running Lead Manager to the offer, and Bigshare Services Private Limited is the Registrar to the offer.
The IPO will comprise a fresh issue of 36.94 Lakh Equity Shares with a face value of ₹10/- through the book-building route. As many as 10,48,000 equity shares have been reserved for the Anchor investors, 1,86,000 equity shares for the market maker, 5,28,000 equity shares allocated for the NII portion, 7,04,000 equity shares for net QIBs, and the Retail (RII) portion accounts for 12,28,000 equity shares.
According to RHP, Identical Brains Studios Limited intends to utilise ₹51.78 Lakhs of the net proceeds from the IPO to fund capital expenditure towards the renovation of the existing office and studio in Andheri; ₹2.86 crore to fund capital expenditure to establish Colour Grading Digital Intermediate (DI) and Sound Studio set up at new branch office in Andheri; ₹75.56 Lakhs to fund capital expenditure towards establishment of the new branch office in Lucknow; ₹3.43 crore to fund capital expenditure for the purchase of computers, storage systems and software to further strengthen the existing facilities/offices of the company; and ₹7.04 crore to fund company’s incremental working capital requirements. The remaining capital will be used for general corporate purposes.
The portfolio of the company includes upcoming project Criminal Justice 4, and completed projects include Khel Khel Mein, Murder in Mahim, Tanaav 2, Bad Cop, The Crew, Article 370, Mission Raniganj, Dream Girl 2, Indian 2, Rocket Boys, Bob Biswas, Kutch Express, Ek Villian Returns, Night Manager, Criminal Justice 3, Phone Bhoot, Satyamev Jayate 2, Angrezi Medium, Scam 1992: The Harshad Mehta Story, Good Newwz, Panipat and many more. The company has won two Filmfare OTT Awards for Best Visual Effects for Scam 1992: The Harshad Mehta Story (2020) and Rocket Boys (2022) in association with Variate Studios LLP.
As a “Trusted Partner Network” (TPN)-audited VFX studio, the company is poised to deliver VFX solutions tailored to meet the standards of the US and European markets. Currently, IBS has received approval for projects from Disney Hotstar and Amazon.
Founded in 2019 by Mr. Raghvendra Rai, a first-generation entrepreneur from Lucknow, Identical Brains Studios has rapidly emerged as a prominent player in developing proprietary workflow processes and technologies that enables its qualified, creative and technical personnel to provide advanced VFX services to customers. With over a decade of experience in the VFX industry, Mr. Rai’s skills and unwavering dedication have been instrumental in driving the company’s success and expansion.
IBS has posted ₹11.39 crore revenue from operations in the first half of the current financial year ended September 30, 2024, with a profit (PAT) of ₹2.4 crore, compared to ₹20.08 crore revenue from operations and a profit (PAT) of ₹5.34 crore in the financial year 2024.
