Lights, Camera, IPO: VFX firm Identical Brains Studios files DRHP; details

Upcoming IPO: Mumbai-headquartered Identical Brains Studios, a leading VFX company, has announced the filing of its Draft Red Herring Prospectus (DRHP) with NSE Emerge for its initial public offering (IPO). The company will offer a fresh issuance of up to 36,94,000 equity shares with a face value of Rs 10 apiece through the book-building route. 

Socradamus Capital is the sole Book Running Lead Manager, and Bigshare Services is the Registrar to the offer, the company announced in the press release. 

As per the DRHP, Identical Brains Studios Limited plans to utilise the net proceeds from the public offering to fund capital expenditure towards the renovation of the existing office and studio in  Andheri; to fund capital expenditure to establish Colour Grading Digital Intermediate (DI),  and  Sound Studio set up at new branch office in Andheri; to fund capital expenditure towards  establishment of the new branch office in Lucknow; to fund capital expenditure for the  purchase of computers, storage systems and software to further strengthen the existing  facilities/offices of the company; to fund company’s incremental working capital requirements and for general corporate purposes.  

About Identical Brains Studios

Identical Brains Studios offers a comprehensive suite of VFX services for films, web series, TV series, documentaries, and commercials. Its customers include leading film and content producers, including major Bollywood Studios.

“In FY 2024, the company reported revenue of Rs 20.08 crore, up from Rs 8.04 crore in FY23, and a profit (PAT) of Rs 5.34 crore, compared to Rs 1.61 crore in FY23, representing a three-fold growth in profit,” Identical Brains Studios said in the press release. 

The portfolio of  Identical Brains Studios includes upcoming projects like Criminal Justice 4 and completed projects such as Khel Khel Mein, Murder in Mahim, Bad Cop, The Crew, Article 370, and many more.