· Stock listed at Rs 95/- on NSE Emerge as against a price band of Rs 54/- per share
· Last week, the IPO received an overwhelming response from the investors as the QIB segment was subscribed 187.36 times, the NII portion was subscribed 1020.20 times and the Retail individual investors (RII) quota was subscribed 544.28 times, bringing overall subscription to 544.28 times
· Public offer opened for subscription on December 18 and closed on December 20, 2024
· IPO comprised a fresh issue of 36.94 Lakh equity shares with a face value of Rs 10 per share; price band fixed at Rs 54/-
DBT Bureau
Pune, 26 Dec 2024
Identical Brains Studios Limited, a VFX company known for its high-quality work in the film and entertainment industry, today made a spectacular debut on the NSE Emerge. The company was listed at Rs 95/-, at a premium of 75.93% over the fixed price band of Rs 54/-.
Last week, the IPO received an overwhelming response from the investors as the Qualified Institutional Buyer (QIB) portion of the issue was subscribed 187.36 times, the NII quota was subscribed 1020.20 times and the Retail Individual Investors (RII) quota was subscribed 544.28 times, bringing the overall subscription to 544.28 times till the final day of bidding on Friday, December 20, 2024, garnering record bids worth over Rs 7,236 crores.
The IPO comprised a fresh issue of 36.94 Lakh Equity Shares with a face value of Rs 10/- through the book-building route. Socradamus Capital Private Limited is the sole Book Running Lead Manager, and Bigshare Services Private Limited is the Registrar to the Issue.
The anchor book of the IPO was subscribed to by a group of high-profile investors, including Holani Venture Capital Fund – Holani Venture Capital Fund – I, Vikasa India EIF I Fund – Incube Global Opportunities, Rajasthan Global Securities Private Limited, LRSD Securities Private Limited, and Abundantia Capital VCC – Abundanti Capital III.
The company has allotted 1.86 Lakh equity shares for Market Maker, 10.48 Lakh equity shares for anchor investors, 7.04 Lakh equity shares allocated for QIBs, 5.28 Lakh equity shares for NIIs, and the Retail (RII) portion accounted for 12.28 Lakh equity shares.
The Mumbai-headquartered company aims to raise Rs 19.95 crore from the issue and intends to utilise Rs 51.78 Lakhs of the net proceeds from the IPO to fund capital expenditure towards the renovation of the existing office and studio in Andheri; Rs 2.86 crore to fund capital expenditure to establish Colour Grading Digital Intermediate (DI) and Sound Studio set up at new branch office in Andheri; Rs 75.56 Lakhs to fund capital expenditure towards establishment of the new branch office in Lucknow; Rs 3.43 crore to fund capital expenditure for the purchase of computers, storage systems and software to further strengthen the existing facilities/offices of the company; and Rs 7.04 crore to fund company’s incremental working capital requirements. The remaining capital will be used for general corporate purposes.
The portfolio of the company includes upcoming project Criminal Justice 4, and completed projects include Khel Khel Mein, Murder in Mahim, Tanaav 2, 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. The company has won two Filmfare OTT Awards for Best Visual Effects for Scam 1992: The Harshad Mehta Story (2020) and Rocket Boys (2022) in association with Variate Studios LLP.
As a “Trusted Partner Network” (TPN)-audited VFX studio, the company is poised to deliver VFX solutions tailored to meet the standards of the US and European markets. Currently, IBS has received approval for projects from Disney Hotstar and Amazon.
Founded in 2019 by Raghvendra Rai, a first-generation entrepreneur from Lucknow, Identical Brains Studios has rapidly emerged as a prominent player in developing proprietary workflow processes and technologies that enables its qualified, creative and technical personnel to provide advanced VFX services to customers. With over a decade of experience in the VFX industry, Raghvendra Rai’s skills and unwavering dedication have been instrumental in driving the company’s success and expansion.
