The Identical Brains Studios IPO is a book-built issue offering ₹19.95 crore, consisting entirely of a fresh issue of 36.94 lakh shares. The IPO will open for subscription on December 18, 2024, and close on December 20, 2024. The allotment is expected to be finalised by December 23, 2024, and the tentative listing date is set for December 26, 2024, on the NSE SME platform.
The price band for the IPO has been set between ₹51 and ₹54 per share. Retail investors must apply for a minimum of 2,000 shares, with a minimum investment amount of ₹1,08,000. High-net-worth individuals (HNIs) need to invest in a minimum of 4,000 shares (2 lots), totaling ₹2,16,000.
Socradamus Capital Private Limited is the book-running lead manager for the issue, while Bigshare Services Pvt Ltd serves as the registrar. Rikhav Securities Limited has been appointed as the market maker for the IPO.
Industry Outlook
- The animation industry is experiencing impressive growth, driven by technological advancements like 3D modelling, virtual reality, and AI. The global 3D animation and visual effects (VFX) markets are growing significantly, with a projected CAGR of around 25%.
- Indian filmmakers are investing more in VFX, with films like "RRR" and "Brahmastra" allocating up to 30% of production costs to VFX. This trend is expected to continue, creating a growing demand for animation and VFX services.
Identical Brains Studios IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- A portion of the net proceeds will be used to fund capital expenditure for renovating the existing office and studio in Andheri.
- The funds will be directed towards setting up Colour Grading Digital Intermediate (DI) and Sound Studio at the new branch office in Andheri.
- The proceeds will help establish a new branch office in Lucknow, allowing the company to expand its presence and operations in a new region.
- A portion will be allocated to purchase computers, storage systems, and software, strengthening the existing facilities and improving efficiency.
- The funds will support incremental working capital requirements, ensuring smooth day-to-day operations.
- The remaining part of the net proceeds will be utilised for general corporate purposes.
About Identical Brains Studios Limited
Identical Brains Studios Limited is a leading provider of computer-generated visual effects (VFX) services, specialising in a wide range of projects such as films, TV series, web series, documentaries, and commercials. Operating out of India, the company works with prominent film and content producers, including major Bollywood studios.
By leveraging a team of creative and technical professionals, the studio brings to life imaginative ideas, seamlessly integrating computer-generated imagery (CGI) into live-action footage. The Indian VFX industry has witnessed impressive growth, with projections suggesting it will nearly triple by 2030. The demand for VFX services continues to rise, fueled by the increasing popularity of films, streaming platforms, and mobile gaming.
Identical Brains Studios has contributed to major Hollywood blockbusters and gained recognition for its work on projects like Scam 1992 and Rocket Boys, which won prestigious awards for Best Visual Effects. The company is also recognised for its commitment to quality and security, being a TPN-audited VFX studio.
Under the leadership of Raghvendra Rai, who has over a decade of experience in the industry, the studio has developed proprietary workflows and technologies that enhance its service delivery.
How To Check the Allotment Status of the Identical Brains Studios IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How to apply for the Identical Brains Studios IPO online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Identical Brains Studios IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Identical Brains Studios
Registered office: 802, 803 and 804, Crescent Royale, Veera Desai Road, off. New Link Road, Oshiwara, Andheri, Mumbai-400053,Maharashtra, India
Phone:022-68943898
E-mail: investor@identicalbrains.com
Listed Industry Peers of Identical Brains Studios Limited
The following are the listed industry peers of Identical Brains Studios Limited:
- Prime Focus Limited
- Digikore Studios Limited
- Phantom Digital Effects Limited
- Basilic Fly Studio Limited
Identical Brains Studios Reservation
|
Investor Category |
Shares Offered |
|
QIB Shares Offered |
Not more than 50.00% of the Net issue |
|
Retail Shares Offered |
Not less than 35.00% of the Net issue |
|
NII (HNI) Shares Offered |
Not less than 15.00% of the Net issue |
Identical Brains Studios Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
2,000 |
₹1,08,000 |
|
Retail (Max) |
1 |
2,000 |
₹1,08,000 |
|
HNI (Min) |
2 |
4,000 |
₹2,16,000 |
Identical Brains Studios Promoter Holding
The company is promoted by Raghvendra Rai and Sameer Rai.
|
Share Holding Pre-Issue |
86.53% |
|
Share Holding Post Issue |
__ |
Key Performance Indicators for Identical Brains Studios IPO
|
KPI |
Values |
|
|
ROE |
71.66% |
|
|
ROCE |
103.52% |
|
|
Debt/Equity |
0.02 |
|
|
RoNW |
44.42% |
|
|
PAT Margin |
26.62 |
|
|
Price to Book Value |
4.64 |
Identical Brains Studios Prospectus
Identical Brains Studios Registrar and Lead Managers
Identical Brains Studios Book Running and Lead Managers
Socradamus Capital Private Limited
Registrar for Identical Brains Studios IPO
Bigshare Services Pvt Ltd
- Contact Number: +91-22-6263 8200
- Email Address: ipo@bigshareonline.com
Website: Link Intime India Private Ltd Registrar
Financial Performance of Identical Brains Studios Limited
| Particulars | As for the Financial Year ended March 31, 2024 | As for the Financial Year ended March 31, 2023 | As for the Financial Year ended March 31, 2022 |
|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 2,008.08 | 804.29 | 389.29 |
| Profit for the year (in ₹ lakh) | 534.65 | 161.28 | 51.01 |
| Net Worth (in ₹ lakh) | 1,203.62 | 288.51 | 127.23 |
| Earnings per share in ₹ | 5.18 | 1.56 | 0.49 |
| EBITDA (in ₹ lakh) | 761.71 | 231.77 | 70.33 |
| Return on Equity (%) | 71.66 | 77.59 | 50.14 |
| Return on capital employed (%) | 103.52 | 108.80 | 81.40 |
Know before investing
Strengths
7Scalable service delivery capabilities ensure on-time, budget-compliant, high-quality projects.
Cost-advantaged locations in Palghar and Lucknow enhance workforce efficiency and scalability.
Highly skilled creative and technical workforce fosters innovation and industry excellence.
Integrated technology and infrastructure drive seamless collaboration and exceptional VFX production.
Attractive business model with significant revenue visibility and long-term margin growth.
Investment in advanced real-time rendering technologies accelerates production while maintaining quality.
Expansion into emerging content sectors like AR/VR opens new business opportunities.
Risks
7Deterioration of relationships with Bollywood studios could adversely affect revenue.
Evolving consumer preferences may decrease demand for VFX services.
OTT business risks, including competition and platform limitations, impact revenue.
Uncertainty in order book and pipeline may affect future revenue realisation.
Cancellations or delays by clients could harm cash flow and reputation.
Heavy reliance on top 10 customers exposes the company to significant risk.
Acquisitions among producers could narrow customer base, increasing competition.
