Identical Brains Studios Plans IPO to Fund Expansion and Technological Enhancements

Identical Brains Studios, a Mumbai-headquartered VFX company, has filed for an IPO to raise funds. The capital will be used for office renovations, establishing new studios, purchasing equipment, and other corporate needs. The company has shown significant financial growth and aims to expand further. Socradamus Capital manages the offer.

Identical Brains Studios, a Mumbai-based VFX company, announced on Monday that it has filed preliminary IPO papers with NSE Emerge to raise funds through an initial public offering (IPO).

The company plans to issue 36.94 lakh equity shares with a face value of Rs 10 each via the book-building route, as stated in their draft red herring prospectus (DRHP). The raised capital will be directed towards enhancing and expanding their facilities, including office renovations and the establishment of new studios in Andheri and Lucknow.

Identical Brains Studios, known for its work in films and web series, reported a profit of Rs 5.34 crore in FY24, a significant increase from Rs 1.61 crore in FY23. The Indian VFX industry has experienced substantial growth, and the firm aims to continue its upward trajectory with this IPO. Socradamus Capital is the lead manager, and Bigshare Services Private is the registrar.

(With inputs from agencies.)