Final Day! Identical Brains Studios IPO: Subscribed Over 500 Times; GMP Skyrockets Over 100%
The SME IPO has been subscribed more than 500 times so far. Ahead of listing next week, the Identical Brains Studios IPO grey market premium was Rs 55 as of 2:27 pm on Friday.
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The initial public offering of Identical Brains Studios Ltd., which opened for subscription on Wednesday will close on Friday, December 20. The Rs 19.95-crore IPO is an entirely fresh issue of 36.94 lakh shares with no offer-for-sale component.
The SME IPO has already crossed 500 times in subscription on the final day of bidding. The issue was subscribed 146.8 times on Thursday. Retail investors led the interest in the initial public offering, bidding for 27,73,36,000 shares against the 12,28,000 shares offered.
The Identical Brains Studios IPO price band has been fixed at Rs 51 to Rs 54 per share. Retail investors must apply for at least 2,000 shares in one lot, taking the minimum investment amount to Rs 1,08,000 at the upper end of the price band.
Bigshare Services Pvt. has been appointed as the registrar for the Identical Brains Studios IPO. Socradamus Capital Pvt. is acting as the book-running lead manager of the issue and Rikhav Securities Ltd. is its market maker.
Identical Brains Studios IPO Day 3 Subscription Status
The IPO has been subscribed 544.28 times as of 5:14 pm on Friday
Qualified Institutions: 187.36 times
Non-Institutional Buyers: 1020.2 times
Retail Investors: 544.28 times
Subscription status will be updated at regular intervals.
Identical Brains Studios IPO GMP Today
Identical Brains Studios IPO grey market premium was Rs 55 as of 2:27 p.m. on Friday. This projects a potential listing gain of 101.85%, with the debut price of the Identical Brains Studios' stock being Rs 109 per share at the upper end of the price band.
The GMP trends have shown an upward movement since the IPO opened for subscription. The GMP of Identical Brains Studios IPO was Rs 38 when the IPO opened for bidding on Wednesday.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Identical Brains Studios IPO Day 2 Subscription Status
The IPO was subscribed 146.8 times on Thursday
Qualified Institutions: 17.43 times
Non-Institutional Buyers: 135.45 times
Retail Investors: 225.84 times
Identical Brains Studios IPO Allotment And Listing Details
The allotment for the Identical Brains Studios IPO is expected to be finalised on Monday, December 23. Credit of shares into the demat accounts of successful bidders will be done on December 24, along with refund initiation to non-allottees.
Identical Brains Studios' shares are will list on the NSE SME platform, Emerge on Thursday, December 26.
Identical Brains Studios Ltd. Business And Financials
VFX services company Identical Brains Studios Ltd. offers computer-generated visual effects for projects, including films, web series, TV series, documentaries, and commercials. The company has bagged Filmfare OTT Awards for Best Visual Effects for Scam 1992: The Harshad Mehta Story (2020) and Rocket Boys (2022).
Use Of Proceeds
Identical Brains Studios Ltd. will use proceeds of the IPO to fund renovation of its studio in Andheri, Mumbai and establish a new branch office in Lucknow. The money raised will also be used to fund the capex required for establishing a colour-grading digital intermediate and sound studio set-up in Andheri, as well as for buying computers, storage systems and software to strengthen its business.
The company will also use the funds for working capital requirements and general corporate purposes.
Financials
As of the period ended Sept. 30, revenue from operations of the company in FY25 was Rs 11.39 crore, while it recorded a net profit of Rs 2.4 crore. In FY24, Identical Brains Studios Ltd. reported a revenue of Rs 20.08 crore and a net profit of Rs 5.34 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult financial advisors and read red herring prospectus thoroughly before placing bids.
