Revolutionary VFX Firm Identical Brains Ignites Excitement with Draft IPO Papers for NSE Emerge | Breaking IPO News

Identical Brains Studios Files for IPO to Raise Funds

September 02, 2024 | 4:21 PM IST

Mumbai-based VFX company, Identical Brains Studios, has submitted preliminary IPO documents to NSE Emerge, aiming to raise funds through a new issuance of up to 36.94 lakh equity shares with a face value of Rs 10. Socradamus Capital is the sole book-running lead manager for this offering, while Bigshare Services Private will serve as the registrar.

The proceeds from the IPO are intended for various strategic initiatives, including renovating their Andheri offices and studios, setting up new facilities in Andheri and Lucknow, upgrading computer systems and software, and addressing working capital needs, among other corporate purposes.

Identical Brains Studios provides a range of VFX services for films, web series, TV series, documentaries, and commercials. Among their notable projects are "Criminal Justice 4," "Khel Khel Mein," "Article 370," "Mission Raniganj," "Dream Girl 2," and "Scam 1992: The Harshad Mehta Story."

Financially, the company showcased significant growth, reporting a profit of Rs 5.34 crore in FY24, up from Rs 1.61 crore in FY23, driven by a revenue increase from Rs 8.04 crore to Rs 20.08 crore over the same period.

The Indian VFX industry has seen exponential growth, with a CAGR of 82% from 2020 to 2023, expanding from USD 10.77 crore to USD 64.72 crore. Projections suggest the industry will nearly triple by 2030, reaching USD 182.3 crore.

(Headline and photo may have been edited by Business Standard staff. Content auto-generated from syndicated feed.)

First Published: Sep 02, 2024 | 4:21 PM IST

Original Story https://www.business-standard.com/markets/ipo/vfx-company-identical-brains-files-draft-ipo-papers-with-nse-emerge-124090200695_1.html
Category :
Tags: