A Mumbai-based VFX studio is stepping into the big leagues with plans for an IPO. They’re looking to issue around 3.69 million shares, each valued at Rs 10, through the book-building route, according to their draft prospectus.
So, what’s the game plan for all this cash? The company aims to revamp its current office and studio in Andheri, set up a brand-new color grading, digital intermediate, and sound studio in another Andheri location, and open a fresh branch in Lucknow. They’re also looking to upgrade their tech with new computers, storage systems, and software, boost their existing facilities, and cover some working capital needs—plus, you know, general corporate stuff.
Identical Brains Studios offer a wide range of VFX services across various projects, from films and web series to documentaries and commercials. Their client list includes some big Bollywood players.
Upcoming projects include Criminal Justice 4, and they’ve already worked on titles like Khel Khel Mein, The Crew, Article 370, Mission Raniganj, Dream Girl 2, Indian 2, Rocket Boys, Bob Biswas, Kutch Express, Ek Villain Returns, Night Manager, Criminal Justice 3, Phone Bhoot, Satyamev Jayate 2, Angrezi Medium, Scam 1992: The Harshad Mehta Story, Good Newwz, and Panipat.
Financially, they’re on a roll. The company reported a profit of Rs 5.34 crore in FY24, up from Rs 1.61 crore in FY23—more than tripling their earnings. Their revenue from operations also jumped to Rs 20.08 crore in FY24, compared to Rs 8.04 crore in the previous year.
