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Upcoming IPO News: Mumbai’s big VFX company Identical Brains Studios has announced its Initial Public Offering (IPO). This IPO will start from 18th December and will close on 20th December. NSE Emerge has already given approval for this IPO. The company is planning to raise Rs 20 crore through this public issue. Let us tell you, a total of 36.94 lakh equity shares with face value of Rs 10 will be issued in this IPO. The money raised through IPO will be spent on the expansion of the company.
What will happen with the money received from IPO?
According to the report of Business Standard, Identical Brains Studios will use the money raised from the IPO for various purposes. The first task in this is to modernize its existing office and studio located in Andheri, Mumbai. Apart from this, the company is planning to open a new branch office in Lucknow to expand its reach across the country. At the same time, color grading digital intermediate (DI) and sound studio will be set up in a new branch office in Andheri. Computers, storage systems and software will be purchased to make the studio hi-tech. The remaining money will be used to meet working capital and other general corporate needs.
what does the company do
Identical Brains Studios works to provide VFX (Visual Effects) services for web series, TV series, documentaries and ads. Talking about the clients of the company, it includes big studios and content producers of Bollywood.
Financial condition of the company
The financial performance of the company has been better in recent years. The company earned a net profit (PAT) of Rs 5.34 crore in FY24, which is three times more than the profit of Rs 1.61 crore in FY23. The operating revenue of the company in FY24 stood at Rs 20.08 crore, whereas in FY23 it was only Rs 8.04 crore. Let us tell you, Identical Brains Studios has appointed Socradamus Capital as the lead manager for its IPO, while Bigshare Services Private Limited will be its registrar.
Special opportunity for investors
Given the company’s strong financial performance and expansion plans, this IPO could be an attractive opportunity for investors. Especially, keeping in mind the increasing demand of VFX industry and the company’s big clients, its prospects look better in the market.
Disclaimer: (The information provided here is being provided for information only. It is important to note here that investment in the market is subject to market risks. Always seek expert advice before investing money as an investor. ABPLive.com does not advise anyone It is never advisable to invest money here.)
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