Mumbai: Identical Brains Studios Limited, a leading VFX company, marked its entry into the stock market with an extraordinary debut on NSE Emerge. The stock opened at ₹95/- per share, representing a remarkable 75.93% premium over its issue price of ₹54/-.
The company’s IPO, which opened for subscription from December 18 to December 20, 2024, saw overwhelming investor demand, with the overall subscription reaching 544.28 times. Key segment subscriptions included:
- Qualified Institutional Buyers (QIBs): 187.36 times
- Non-Institutional Investors (NIIs): 1020.20 times
- Retail Individual Investors (RIIs): 544.28 times
The IPO comprised a fresh issue of 36.94 lakh equity shares with a face value of ₹10/- per share, raising ₹19.95 crore. The issue was managed by Socradamus Capital Private Limited as the sole book-running lead manager, with Bigshare Services Private Limited acting as the registrar.
Identical Brains Studios plans to utilize the proceeds for various growth and operational needs, including:
- Renovation of its Andheri office and studio: ₹51.78 lakhs
- Establishment of Colour Grading Digital Intermediate (DI) and Sound Studio in Andheri: ₹2.86 crore
- New branch office setup in Lucknow: ₹75.56 lakhs
- Procurement of computers, storage systems, and software: ₹3.43 crore
- Incremental working capital requirements: ₹7.04 crore
- Remaining funds will be allocated for general corporate purposes.
The company’s extensive portfolio includes completed projects such as Scam 1992: The Harshad Mehta Story, Rocket Boys, Mission Raniganj, Dream Girl 2, Indian 2, Good Newwz, and Panipat. Upcoming projects include Criminal Justice 4.
Identical Brains Studios has also received critical acclaim, winning two Filmfare OTT Awards for Best Visual Effects for Scam 1992 and Rocket Boys.
Founded in 2019 by Raghvendra Rai, a first-generation entrepreneur, the company has rapidly established itself as a trusted partner in delivering advanced VFX solutions tailored for the US and European markets. With approvals from Disney Hotstar and Amazon, the company is poised for global expansion.
“We are immensely proud of our journey and today’s market debut. It reflects the trust and confidence our investors and clients have in us. This milestone further strengthens our commitment to delivering cutting-edge VFX solutions,” said Mr. Rai, Founder and Managing Director of Identical Brains Studios.
As a TPN-audited VFX studio, Identical Brains Studios is well-positioned to leverage its proprietary technologies and industry expertise to cater to the evolving needs of the entertainment industry. The company’s remarkable market debut highlights its robust potential and investor confidence in its growth trajectory.
For more information, visit : https://identicalbrains.com/
