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Identical Brains Studios Ltd IPO

Identical Brains Studios Limited is a TPN audited visual effects (VFX) studio, offering comprehensive suite of VFX services in diverse range of projects such as films, web series, TV series, documentaries, and commercials. Its portfolio includes upcoming projects like Tanaav 2, Criminal Justice 4, and completed projects include Khel Khel Mein, Murder in Mahim, 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.

Identical Brains Studios Ltd IPO Details

Total Shares Offered

₹ 36,94,000

Offer to Public

TBA

Retail Max (Shares)

₹ 12,28,000

Pre Issue Promoters Holding

₹ 89,40,000

Exchange

NSE

Issue size

₹ 19.95 Cr

IPO Open Date

Dec 18, 2024

Close Date

Dec 20, 2024

Lot Size

2000

Min Investment

₹ 1,02,000

Issue Type

Book Building - SME

Listing Date

Dec 26, 2024

Identical Brains Studios Ltd IPO Dates

Dec 18, 2024

Opening date

Dec 20, 2024

Closing date

Dec 23, 2024

Basis of Allotment

Dec 24, 2024

Initiation of Refunds

Dec 24, 2024

Credit of Shares

Dec 26, 2024

Listing date

Details

Sector	Type
Sector	Entertainment
Sub Sector	Electronic Media Software
Issue Type	Book Building - SME

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*	Shares Bid*
QIB	75.29x	1752000	131900000
NII	1020.55x	528000	538852000
Retail	544.28x	1228000	668374000
Employee	0x	0	0
Total	362.51x	3694000	1339126000

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

75.29x

1020.55x

544.28x

362.51x

1752000

528000

1228000

3694000

131900000

538852000

668374000

1339126000

Identical Brains Studios Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	6.59	7.76	2.35
EBITDA	7.76	8.16	2.47
PAT	3.95	5.34	1.61
Total Assets	32.79	9.73	2.98
Share Capital	14.03	6.89	0.01
Total Borrowings	4.09	1.99	0.80
Operating Activities (Net Cash)	5.12	5.74	1.73
Investing Activities (Net Cash)	0.93	5.12	1.42
Financing Activities (Net Cash)	4.09	1.99	0.80
Net Cashflow	12.11	1.80	1.67

About Identical Brains Studios Ltd

Identical Brains Studios Limited was incorporated as a One Person Company under the name Identical Brains (OPC) Private Limited under the provisions of the Companies Act, 2013 vide certificate of incorporation dated February 04,2019 issued by the Assistant Registrar of Companies, Central Registration Centre, Manesar. Further, the company was converted from a OPC to private limited company pursuant to a special resolution passed in the extraordinary general meeting of its shareholders held on April 02, 2021 and the name of the Company was changed to Identical Brains Private Limited with a fresh Certificate of Incorporation dated July 08, 2021 issued by the Registrar of Companies, Mumbai. Subsequently, the name of the company was changed to Identical Brains Studios Private Limited pursuant to a special resolution passed in the extraordinary general meeting of its shareholders held on March 22, 2024, consequent upon which, a fresh certificate of incorporation dated June 18, 2024 was issued by the Assistant Registrar of Companies, Central Registration Centre. Thereafter, the company was converted from a private limited company to a public limited company, pursuant to a special resolution passed in the extraordinary general meeting of its shareholders held on June 21, 2024 and the name of the Company was changed to Identical Brains Studios Limited with a fresh certificate of incorporation dated August 12, 2024, issued to the Company by the Assistant Registrar of Companies, Central Registration Centre. The Corporate Identification Number of the Company is U22219MH2019PLC320624.

Visual Effects or VFX breathes life into the fantastical worlds and impossible scenarios by creation or manipulation of any imagery not filmed during live-action shooting, using techniques, including computer-generated imagery, compositing, and green screens, alongside services like 3D modeling, animation, rotoscoping, etc. The Indian VFX industry has grown from USD 107.7 million in CY 2020 to USD 647.2 million in CY 2023, with a CAGR of approximately 81.8% and growth rate exceeding 500%. The market is projected to nearly triple, jumping from USD 647 million in CY 2023 to USD 1,823 million by CY 2030, with a CAGR exceeding 15.9%.

Peer Comparison:

Prime Focus Ltd
Digikore Studios Ltd
Phantom Digital Effects Ltd
Basilic Fly Studio Ltd

Identical Brains Studios Ltd Key Points

Strengths

Integrated and highly scalable service delivery capabilities.

Reputation as a trusted provider of VFX Services with established relationships throughout the Entertainment Industry.

Attractive business model, with significant revenue visibility and compelling opportunities for long-term margin expansion and cash flow generation.

Experienced management team with managerial, creative and technical expertise and industry relationships.

Risk

The company depends upon its relationships with the major Bollywood studios, including key executive and creative talent, and any deterioration in these relationships could materially and adversely affect its business.

The Company operates in the constantly evolving entertainment industry, which is subject to rapidly changing consumer behaviour and tastes, and depends on audience acceptance of content for which the company provide VFX services and the longterm popularity of the brands and franchises that its customers produce.

If the film and content producers reduce the amount of VFX content they produce and release, the company's revenue would likely decline.

Strategy

Establish Colour Grading Digital Intermediate (DI) and Sound Studio Set up.

Pursue emerging content media and strategically increase scale.

Investment in technologies, infrastructure and facilities.

Maintain creative, technical and managerial leadership by leveraging its brand and reputation to recruit leading talent.

Expand its VFX services offering to film and content producers in new, high-growth geographic markets.

How To Apply for Identical Brains Studios Ltd IPO Online?

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From the list of open IPOs, select the IPO you want to invest.

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Go through the IPO details like lot size, price band, about the company, etc.

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Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

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Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Identical Brains Studios Ltd IPO?

Identical Brains Studios Ltd's IPO offers shares for up to 19.95 It begins on Dec 18, 2024 and ends on Dec 20, 2024.

What is the price of the Identical Brains Studios Ltd IPO?

The price of Identical Brains Studios Ltd IPO ranges between ₹51 to ₹54 per share.

What are the open and close dates for the Identical Brains Studios Ltd IPO?

The Identical Brains Studios Ltd IPO opens on Dec 18, 2024 and closes on Dec 20, 2024.

When will the Identical Brains Studios Ltd IPO be allotted?

The allotment for the Identical Brains Studios Ltd IPO will be finalised on Dec 23, 2024. The shares will be listed on BSE and NSE on Dec 26, 2024.

What is the minimum lot size required for Identical Brains Studios Ltd IPO?

The minimum lot size for Identical Brains Studios Ltd IPO is 2000 shares, priced between ₹51 to ₹54 per share.

What is the GMP of Identical Brains Studios Ltd IPO?

The GMP (Grey Market Premium) of Identical Brains Studios Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Identical Brains Studios Ltd IPO?

To check the allotment status of Identical Brains Studios Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Identical Brains Studios Ltd IPO getting listed?

The Identical Brains Studios Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Dec 18, 2024, and closes on Dec 20, 2024. The allotment is finalised on Dec 23, 2024.

How do you apply for the Identical Brains Studios Ltd IPO?

To apply for the Identical Brains Studios Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.