Mumbai-based Identical Brains Studios (IBS), a prominent name in the VFX industry, has received in-principle approval for its Initial Public Offering (IPO) from the NSE Emerge exchange. The company is preparing to file its Red Herring Prospectus (RHP) with updated details, marking a significant milestone as it moves closer to being listed on the platform. The IPO aims to raise approximately ₹20 crore through the book-building route, with 36,94,000 equity shares offered at a face value of ₹10 each.
A Rapid Rise in the VFX Arena
Founded in 2019 by Raghvendra Rai, a first-generation entrepreneur, IBS has rapidly established itself as a leader in visual effects (VFX) for films, TV series, web series, commercials, and documentaries. The company has collaborated with major Bollywood studios and content creators, earning widespread recognition for its cutting-edge VFX solutions.
Notably, IBS has won two Filmfare OTT Awards for Best Visual Effects, showcasing its expertise in acclaimed productions such as Scam 1992: The Harshad Mehta Story and Rocket Boys in association with Variate Studios LLP.
Planned Utilization of IPO Funds
The funds raised through the IPO will support IBS’s ambitious expansion plans, including:
- Studio Renovation: Upgrading its existing studio in Andheri, Mumbai.
- New Facilities: Establishing a Colour Grading Digital Intermediate (DI) and Sound Studio at its new Andheri branch.
- Office Expansion: Setting up a new office in Lucknow.
- Technological Upgrades: Acquiring advanced computers, storage systems, and software to strengthen its VFX capabilities.
Global Standards and Market Potential
As part of the Trusted Partner Network (TPN)-audited VFX studios, IBS adheres to global security and quality standards, making it a reliable partner for projects targeting international markets, including the US and Europe.
With a focus on innovation and a highly skilled team, IBS has become a top-tier player in India’s booming VFX industry, positioning itself to capitalize on growing demand in both domestic and global markets.
Financial Growth and Future Prospects
IBS has demonstrated remarkable financial performance, posting a revenue of ₹20.08 crore in FY 2024, a significant leap from ₹8.04 crore in FY 2023. Net profits have also surged to ₹5.34 crore in FY 2024 from ₹1.61 crore in the previous fiscal year.
This growth trajectory underscores the company’s operational efficiency and market potential, making it a promising investment as it enters the public market.
A Bright Future for Indian VFX
As Identical Brains Studios prepares to go public, the move not only highlights its rapid ascent but also reflects the growing importance of the VFX industry in India’s entertainment sector. The IPO is set to provide the company with the resources needed to scale new heights and further solidify its leadership position.
Note: We are also on WhatsApp, LinkedIn, and YouTube, to get the latest news updates, Join our Channels. WhatsApp– Click here, and for LinkedIn– Click Here