Phantom Digital Effects Limited (Phantom FX), one of the leading Creative Visual Effects (VX) Studios in India, has entered the SME IPO.
As part of raising funds, the company has decided to enter the SME IPO as fresh Equity Shares to the public for the first time and get listed on the NSE-EMERGE platform.
A statement from the company read, “Phantom FX has drawn up massive expansion plans in India and abroad with a total investment of about Rs 40 Crore.”
“PhantomFX, a Trusted Partner Network (1PN) Certitled company, is planning to spread its wings across the globe by setting up High-end digital studios that would elevate our global presence as an industry leader in the next couple of years,” said Bejoy Arputharaj, Founder, Managing Director, and CEO at Phantom Digital Effects Limited (Phantom FX).
Asserting that the VFX and Animation sector is one of the fast-growing and emerging businesses with the potential to grow tremendously in the future, he said Phantom FX is gearing up to take full advantage of the industry growth and position itself as a premier VFX company globally.
“The company plans to set up high end Digital studios in Cochin, Hyderabad , and Tier I cities Ike Colmbasare & Madural and a big expansion in the existing location in Chennai & Mumbai in Tamil Nadu,” Bejoy added.
Plans are afoot to establish world-class Digital studios in Vancouver & Montreal in Canada, Los Angeles & Delaware in the USA, the United Kingdom, and Dubai.
“We are also ambitious to explore other potential offshore markets,” he said adding, in all, “we will be investing about 1 Million US dollars”, Bejoy said.
As the market is growing exponentially, Phantom FX has also decided to expand its present Digital Studio located in Chennai & Mumbai. “Presently, we are operating in a 25,000 sq. ft area and the Studio will be expanded to 1 lakh sq. ft area by March next year,” he said.
While expanding its horizons, Phantom FX would generate substantial employment opportunities in the Visual Effects (VFX) domain, targeting young and dynamic talents in the country, “We will be making available a massive 2,000 plus placements within a period of three years,” Bejoy said.
He also added that the company would be collaborating with Indian Universities and other Educational Institutions that produce Visual Effects (VFX) talent for placements.