Solid Debut! Identical Brains Studios shares list at 76% premium over issue price on NSE SME

Identical Brains Studios listing: Identical Brains Studios shares listed at a hefty premium of 75.9% at ₹95 as against the issue price of ₹54 on the NSE SME platform on Thursday, December 26.

The initial public offering (IPO) of Identical Brains Studios, worth ₹19.95, was open for subscription from December 18 to December 20. The issue was entirely a fresh issue of 36.94 lakh shares and was priced in the range of ₹51 to ₹54 per share.

At the end of the three-day bidding process, the issue was booked a whopping 544.28 times, with the non-institutional investor portion garnering 1020.2 times bids and the retail investor quota 544.28 times bids. Meanwhile, the qualified institutional buyers (QIB) quota was subscribed 187.36 times.

The company plans to use the funds raised via the IPO for multiple purposes such as funding capital expenditure towards the renovation of existing Andheri studio and office, establishment of Colour Grading Digital Intermediate (DI) and Sound Studio Set up at new branch office in Andheri, and establishment of new branch office in Lucknow.

It further proposes to utilise IPO money for purchase of computers, storage systems and software to further strengthen the existing offices of the company, funding incremental working capital requirements, and general corporate purposes.

About Identical Brains Studios

The company provides computer-generated visual effects (VFX) services in a diverse range of projects such as films, web series, TV series, documentaries, and commercials.

Its portfolio includes upcoming projects like Tanaav 2 and Criminal Justice 4. Meanwhile, some of its completed projects include Khel Khel Mein, Murder in Mahim, Bad Cop, The Crew, Article 370, Mission Raniganj, Dream Girl 2, Adipurush, Bob Biswas, Ek Villian Returns, Night Manager, Criminal Justice 3, Phone Bhoot, Satyamev Jayate 2, Angrezi Medium, Scam 1992: The Harshad Mehta Story, Good Newwz among others.

Identical Brains Studios' revenue increased by 150.71% year-on-year to ₹2,026.38 lakh in FY24 while its and profit after tax (PAT) rose by 231.5% YoY to ₹534.65 lakh in the same period.

Socradamus Capital was the book running lead manager of the Identical Brains Studios IPO, while Bigshare Services acted as the registrar for the issue.

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