Identical Brains Studios Limited IPO

Incorporated in 2019, Identical Brains Studios Limited offers computer-generated visual effects (“VFX”) services. The company provides VFX services for projects such as films, web series, TV series, documentaries, and commercials.

The company has provided VFX services for films that received two Filmfare OTT Awards nominations, one Filmfare Awards nomination, one Dadasaheb Phalke Awards nomination and more for Best Visual Effects.

The company has also won 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 and one Dadasaheb Phalke Awards for Phone Bhoot (2022) for Best Visual Effect.

Competitive Strengths:

  • Operations in economically attractive locations.
  • Integrated technology and infrastructure.
  • Skilled creative and technical workforce.
  • Reputation as a trusted provider of VFX Services with established relationships throughout the Entertainment Industry.
  • Attractive business model, with significant revenue visibility and compelling opportunities for long-term margin expansion and cash flow generation.
  • Experienced management team with managerial, creative and technical expertise and industry relationships.

Identical Brains Studios Limited Financial Information (Restated)

Identical Brains Studios Limited’s revenue increased by 150.71% and profit after tax (PAT) rose by 231.5% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended30 Sep 202431 Mar 202431 Mar 202331 Mar 2022
Assets2,183.641,702.39475.50226.38
Revenue1,149.622,026.38808.26390.75
Profit After Tax240.54534.65161.2851.01
Net Worth1,436.081,203.62288.51127.23
Reserves and Surplus402.89514.82287.51126.23
Total Borrowing17.0919.04  
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Identical Brains Studios IPO is Rs 75.74 Cr.

KPI as of Sun, Mar 31, 2024.

KPIValues
ROE71.66%
ROCE103.52%
Debt/Equity0.02
RoNW44.42%
PAT Margin26.62
Price to Book Value4.64
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2024 that is available in RHP.

Objects of the Issue (Identical Brains Studios IPO Objectives)

The company proposes to utilize the Net Proceeds from the Issue towards the following objects:

  1. Funding capital expenditure towards the renovation of the existing Andheri office and studio.
  2. Funding capital expenditure towards establishment of Colour Grading Digital Intermediate (“DI”) and Sound Studio Set up a new branch office in Andheri.
  3. Funding capital expenditure towards the establishment of a new branch office in Lucknow.
  4. Funding capital expenditure for the purchase of computers, storage systems and software to further strengthen the existing facilities/offices of the company.
  5. Funding our incremental working capital requirements; and
  6. General corporate purposes.

Identical Brains Studios IPO Details

IPO DateDecember 18, 2024 to December 20, 2024
Listing Date[.]
Face Value₹10 per share
Price Band₹51 to ₹54 per share
Lot Size2,000 Shares
Total Issue Size36,94,000 shares
(aggregating up to ₹19.95 Cr)
Fresh Issue36,94,000 shares
(aggregating up to ₹ 19.95 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE SME
Share Holding Pre Issue1,03,31,958 shares
Share Holding Post Issue1,40,25,958 shares
Market Maker Portion1,86,000shares

Identical Brains Studios IPO Promoter Holding

Raghvendra Rai and Sameer Rai are the company promoters.

Share Holding Pre Issue

85.63%

Share Holding Post Issue 

SHARIAH SCREENING for - Identical Brains Studios Limited IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

As per our analysis and Based on the information we have, this is the output.
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