- Subscription window: December 18–20, 2024.
- Price band: ₹51–₹54 per share.
- The company will use funds for expansion, equipment purchase, and studio upgrades.
- Significant financial growth with 149.75% revenue increase in FY24.
- Listing on NSE EMERGE platform.
Identical Brains Studios, a TPN-audited VFX and CGI studio, is launching its Initial Public Offering (IPO) on December 18, 2024, and the subscription window will close on December 20, 2024. The IPO price band has been set between ₹51 – ₹54 per share.
The company specializes in delivering computer-generated visual effects (VFX) and computer-generated imagery (CGI) for films, web series, documentaries, commercials, and educational projects. Some of its upcoming projects include Tanaav 2 and Criminal Justice 4, with project approvals already secured from major platforms like Disney+ Hotstar and Amazon.
Identical Brains Studios IPO Details
| IPO Particulars | Details |
|---|---|
| IPO Open Date | December 18, 2024 |
| IPO Close Date | December 20, 2024 |
| Issue Price | ₹51 – ₹54 per share |
| Face Value | ₹10 per share |
| Fresh Issue Size | 36,94,000 shares |
| Total IPO Size | ₹18.84 – ₹19.95 crore |
| Offer for Sale | NIL |
| Lot Size | 2,000 shares (₹1,08,000) |
| Retail Allocation | 35% |
| Listing Platform | NSE EMERGE |
| Lead Manager | Socradamus Capital |
| Registrar | Bigshare Services Pvt Ltd. |
Important IPO Dates
| Event | Date |
|---|---|
| IPO Open | December 18, 2024 |
| IPO Close | December 20, 2024 |
| Basis of Allotment Finalization | December 23, 2024 |
| Refunds Initiation | December 24, 2024 |
| Shares Transfer to Demat | December 24, 2024 |
| Listing Date | December 26, 2024 |
Subscription and Allotment Status
- Investors can check the IPO allotment status on Bigshare Services’ website once finalized.
- Minimum investment for retail investors is 2,000 shares (₹1,08,000), while high net-worth individuals (HNIs) can invest in multiples of two lots (₹2,16,000).
How Funds Will Be Used
The proceeds from the IPO will be utilized for:
- Studio Renovation and office expansion in Andheri.
- Setting up a branch office in Lucknow.
- Establishing a color grading and sound studio in Andheri.
- Purchasing essential equipment like computers, software, and storage systems.
- Meeting working capital needs and other general corporate purposes.
Financial Performance
Identical Brains Studios has shown significant growth over the past years:
| Particulars | FY 2022 | FY 2023 | FY 2024 | H1 FY 2025 |
|---|---|---|---|---|
| Revenue (₹ Cr) | 3.89 | 8.04 | 20.09 | 11.39 |
| Expenses (₹ Cr) | 3.21 | 5.85 | 12.89 | 8.26 |
| Net Income (₹ Cr) | 0.51 | 1.61 | 5.35 | 2.41 |
The company has demonstrated remarkable growth:
- Revenue increased by 149.75% in FY 2024 (₹20.09 crore) compared to FY 2023.
- Profit after Tax (PAT) surged by 231.67% in FY 2024.
Financial Ratios & Valuations
| Metrics | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Earnings Per Share (EPS) | 0.49 | 1.56 | 5.18 |
| P/E Ratio | – | – | 9.85 – 10.42 |
| Return on Net Worth (RONW) | 40.09% | 55.90% | 44.42% |
| EBITDA Margin (%) | 18.07% | 28.82% | 37.92% |
| Debt/Equity Ratio | – | – | 0.02 |
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As of December 17, 2024, the GMP is ₹25, indicating strong investor interest.
About Identical Brains Studios
Identical Brains Studios is a leading TPN-audited VFX and CGI service provider, specializing in delivering high-quality visual effects for the entertainment and education industries. The company’s services include:
- Rotoscopy
- Paint/Cleanup
- 2D/3D Compositing
- Camera Tracking
- Matte Painting
- 3D Texturing
- Motion Graphics
Upcoming Projects
The company has already secured approvals for its upcoming work on notable projects such as:
- Tanaav 2
- Criminal Justice 4
Additionally, Identical Brains Studios has received approvals for its projects from major OTT platforms, including:
- Disney+ Hotstar
- Amazon
The company plans to further its operations by setting up a cutting-edge color grading and digital intermediate (DI) studio in Andheri and expanding its footprint with a new branch in Lucknow.
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice or an endorsement of any IPO or investment opportunity. While we strive to ensure the accuracy of the details shared, the content is based on publicly available information, research, and reports from credible sources. Readers are advised to verify the details independently and consult with a financial advisor before making any investment decisions.Stay informed and exercise caution while making financial decisions.
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