Identical Brains Studios Shares Surge 75.9% on NSE SME Debut Following Strong IPO Subscription
Identical Brains Studios made a stellar debut on the NSE SME platform on Thursday, December 26, with its shares listing at ₹95, marking a remarkable 75.9% premium over the issue price of ₹54.
The company’s initial public offering (IPO) raised ₹19.95 crore and was open for subscription from December 18 to December 20. The IPO, which was entirely a fresh issue of 36.94 lakh shares, was priced between ₹51 and ₹54 per share. The offering received an overwhelming response, being subscribed a massive 544.28 times. Notably, the non-institutional investor portion was subscribed 1,020.2 times, and the retail investor quota was subscribed 544.28 times. The qualified institutional buyer (QIB) portion was also heavily oversubscribed at 187.36 times.
Use of IPO Proceeds: Identical Brains Studios plans to use the funds raised from the IPO for several growth initiatives, including:
- Renovating its existing studio and office in Andheri.
- Establishing a Colour Grading Digital Intermediate (DI) and Sound Studio at a new branch office in Andheri.
- Setting up a new office branch in Lucknow. The company also plans to invest in new computers, storage systems, and software to enhance its existing offices and strengthen its working capital position.
About Identical Brains Studios: Identical Brains Studios specializes in providing computer-generated visual effects (VFX) services for a wide variety of projects, including films, web series, TV series, documentaries, and commercials.
Some of its notable completed projects include Khel Khel Mein, Bad Cop, Dream Girl 2, Adipurush, Scam 1992: The Harshad Mehta Story, Angrezi Medium, and Criminal Justice 3. The company is also working on upcoming projects like Tanaav 2 and Criminal Justice 4.
Financial Performance: The company’s revenue for FY24 surged by 150.71% year-on-year, reaching ₹2,026.38 lakh. Its profit after tax (PAT) also saw a dramatic 231.5% YoY increase, totaling ₹534.65 lakh.
Socradamus Capital was the book running lead manager for the IPO, while Bigshare Services acted as the registrar for the issue.
Stock Performance: Following the strong demand during the IPO and the promising financial results, Identical Brains Studios’ shares are likely to continue drawing attention from investors as the company expands its presence in the growing VFX industry.
