Identical Brains Studios Announces Rs 20 Crore IPO for Expansion

Identical Brains Studios, a VFX company in Mumbai, plans a Rs 20 crore IPO starting December 18. The raised funds will help with expansion, including a new office and essential equipment. The firm reported a threefold profit increase in FY24, with Socradamus Capital as the IPO manager.

In an ambitious move to fuel its expansion plans, Mumbai-based Visual Effects (VFX) firm Identical Brains Studios is set to launch an initial public offering (IPO) worth Rs 20 crore on December 18.

Identical Brains Studios received in-principle approval for the IPO from NSE Emerge earlier this month, with the public issue scheduled to conclude by December 20. The IPO will consist of an issuance of 36.94 lakh equity shares at a face value of Rs 10 each.

The funds generated will aid in office and studio renovations, establish a new branch in Lucknow, and upgrade facilities with new equipment. The company noted significant financial growth, with a profit of Rs 5.34 crore in FY24, handled by Socradamus Capital as the book-running lead manager.

(With inputs from agencies.)