December 21, 2024
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Identical Brains Studio listing Review
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Identical Brains Studio IPO allotment Link
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Subscription status of Identical Brains Studio IPO
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Identical Brains Studios Limited IPO Price Rs. 54 Lot 2000 shares, Rs. 19.95 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| 187.36 | 1,020.20 | 544.28 | 544.28 | 3,55,416 |
| Amount wise bids recd. Rs. ? Crore | ||||
| Note: | ||||
What is the business of Identical Brains Studio?
Incorporated in 2019, Identical Brains Studios Limited is a leading provider of high-quality computer-generated visual effects (VFX) services. Specializing in enhancing the visual storytelling of films, web series, TV series, documentaries, and commercials, the company is dedicated to delivering exceptional VFX that captivate audiences and elevate content.
Over the years, Identical Brains Studios has contributed VFX services to a range of critically acclaimed projects. Some of these films have received multiple prestigious nominations, including two Filmfare OTT Awards nominations, one Filmfare Awards nomination, and a nomination for the Dadasaheb Phalke Awards, all in the category of Best Visual Effects.
The company has also celebrated significant achievements, winning 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. Additionally, Identical Brains Studios secured a Dadasaheb Phalke Award for Phone Bhoot (2022) in the category of Best Visual Effects.
With a strong track record of excellence and innovation, Identical Brains Studios continues to set new standards in the VFX industry, pushing creative boundaries and delivering world-class results.
Get more information about the company @ www.identicalbrains.com
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Identical Brains Studio IPO Details |
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| IPO opens on | 18 December 2024 |
| IPO closes on | 20 December 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 3694000 Shares / Rs 19.95 Crore |
| * Fresh Issue | 3694000 Shares / Rs 19.95 Crore |
| * Offer for Sale – | – shares / Rs. – crore |
| Market Maker Portion | – Shares |
| Net offer to Public | 3694000 Shares/ Rs.19.95 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 51-54 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 2000 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
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| Shares | Rs. (Crore) | |
| QIB (50%) | 1847000 | 9.97 |
| NII (15%) | 554100 | 2.99 |
| RII (35%) | 1292900 | 6.99 |
| Total Shares | 3694000 | 19.95 |
| Retail portion will be oversubscribed by |
646 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 2000 Shares | Rs.108000 |
| Min HNI Application | 4000 Shares | Rs. 216000 |
Who are the Promoters of Identical Brains Studio?
THE PROMOTERS OF THE COMPANY ARE RAGHVENDRA RAI AND SAMEER RAI
What are the Objects of Identical Brains Studio IPO?
The Offer comprises of fresh issue of shares.
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- Funding capital expenditure towards the renovation of the existing Andheri office and studio.
- Funding capital expenditure towards establishment of Colour Grading Digital Intermediate (“DI”) and Sound Studio Set up a new branch office in Andheri.
- Funding capital expenditure towards the establishment of a new branch office in Lucknow.
- Funding capital expenditure for the purchase of computers, storage systems and software to further strengthen the existing facilities/offices of the company.
- Funding our incremental working capital requirements; and
6. General corporate purposes.
Tentative timetable |
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| IPO opens on | 18 December 2024 |
| IPO Closes on | 20 December 2024 |
| IPO Allotment on | 23 December 2024 |
| Refund Initiation | 24 December 2024 |
| Credit of Shares | 24 December 2024 |
| Listing on | 26 December 2024 |
| Registered Office of the Company Identical Brains Studios Limited 802, 803 and 804, Crescent Royale, Veera Desai Road, off. New Link Road, Oshiwara, Andheri, Mumbai – 400 053 |
| Who is the Lead Manager of this IPO? Socradamus Capital Private Limited |
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Who is the Registrar to IPO? |
Identical Brains Studio IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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Identical Brains Studio IPO Financial & Analytical Ratios |
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| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 3.91 | 0.51 | 0.49 | 44.09 |
| 2022-23 | 8.08 | 1.61 | 1.56 | 55.90 |
| 2023-24 | 20.26 | 5.35 | 5.18 | 44.42 |
| Book Value of the Share on 31.03.2024 |
Rs | 11.65 | ||
| BV of the Share at cap price after IPO |
Rs. | |||
| Offer Price/upper band | Rs. | 35 | ||
Key Performance
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| Price/EPS of 23-24 | 6.75 |
| Price/BV Ratio | 3.00 |
| Debt/Equity Ratio | 0.02 |
How Identical Brains Studio IPO compares with the Peers?
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Crore | |||
| Identical Brains Studio | 10 | – | 6.75 |
| Prime Focus | – | ||
| Digikore Studios | 24.68 | ||
| Phantom Digital | 14.45 | ||
| BAsilic Fly Studio | 32.47 | ||
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Identical Brains Studio IPO Review
Identical Brains Studios Limited is a leading provider of high-quality computer-generated visual effects (VFX) services. Specializing in enhancing the visual storytelling of films, web series, TV series, documentaries, and commercials, the company is dedicated to delivering exceptional VFX that captivate audiences and elevate content.
Over the years, Identical Brains Studios has contributed VFX services to a range of critically acclaimed projects. Some of these films have received multiple prestigious nominations, including two Filmfare OTT Awards nominations, one Filmfare Awards nomination, and a nomination for the Dadasaheb Phalke Awards, all in the category of Best Visual Effects.
The net size of the IPO is Rs. 19.95 crore, which is relatively small. The HNI portion stands at Rs. 2.99 crore, and significant oversubscription is expected in this category. The company has demonstrated a sharp increase in net profits for the year 2023-24, just before the IPO. However, assuming the projects were completed within the year, the profit surge appears to be genuine rather than inflated. The shares are offered at a reasonable valuation, with an attractive premium-to-offer price ratio, making it an appealing investment opportunity.
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