The initial public offering of Identical Brains Studios Ltd. opened for subscription on Wednesday. The Rs 19.95-crore Identical Brains Studios IPO is an entirely fresh issue of 36.94 lakh shares with no offer-for-sale component.
The SME IPO was subscribed 30.25 times on the opening day of bidding.
Identical Brains Studios IPO subscription window will remain open till Dec. 20. Share allotment will be done on Dec. 23.
Credit of shares into the demat accounts of successful bidders will be done on Dec. 24, along with refund initiation to non-allottees.
Identical Brains Studios' shares are expected to list on the NSE SME platform Emerge on Dec. 26.
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 2 Subscription Status
The IPO has been subscribed 121.57 times as of 3:59 p.m on Thursday
Qualified Institutions: 15.82 times
Non-Institutional Buyers: 100.95 times
Retail Investors: 191.06 times
The subscription status will be updated at regular intervals.
Identical Brains Studios IPO GMP Today
Identical Brains Studios IPO grey market premium was Rs 40 as of 2:23 p.m. on Thursday, as per InvestorGain. This projects a potential listing gain of 74.07%, with the debut price of the Identical Brains Studios' stock being Rs 94 per share at the upper end of the price band.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
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.
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