Home >> Blog >> Identical Brains Studios IPO: Date, Price, GMP & Details
Identical Brains Studios IPO: Date, Price, GMP & Details
Table of Contents
- Identical Brains Studios IPO-Complete Overview
- Identical Brains Studios IPO Overview
- Company Financial
- The Objective of the Issue
- Peers of Identical Brains Studios IPO Ltd.
- Evaluation
- IPO's Strengths
- IPO’s Weaknesses
- Identical Brains Studios IPO GMP
- Promoters And Management of Identical Brains Studios Ltd.
- IPO Lead Managers
- Dividend Policy
- Conclusion
Identical Brains Studios IPO-Complete Overview
Identical Brains Studios IPO under the SME IPO category is a book-built issue of Rs.19.95 crore by Identical Brains Studios Limited, incorporated in 2019, and provides computer graphics visual effects ("VFX") services. The company works on providing VFX services for large-scale projects including films, web series, TV series, documentaries, and commercials.
Some of the films the company has rendered VFX services for have received two nominations for Filmfare OTT Awards, one nomination for a Filmfare Award, and one nomination for Dadasaheb Phalke Awards, among others for Best Visual Effects.
The company has gone into association with Variate Studios LLP and managed to receive two Filmfare OTT Awards for Best Visual Effects for Scam 1992: The Harshad Mehta Story (2020) and Rocket Boys (2022) and Baby Bhoot received one Dadasaheb Phalke Award for Phone Bhoot (2022) for Best Visual Effects.
Identical Brains Studios IPO Overview
This Identical Brains IPO date is 18 December 2024, and its ‘initial public offering’ will end on 20 December 2024.
The Rs.19.95 crore new SME IPO comprises a wholly fresh issue of 36.94 lac Shares.
This upcoming IPO date is on 18 December 2024. The Identical Brains Studios IPO Price is Rs.51 to Rs.54 for each Share.
The expected IPO listing date is Thursday, 26 December 2024, and listing at NSE and SME.
To open a demat account and apply for the IPO, Click Here.
Company Financial
The company’s revenue grew by 150.71% and PAT increased by 231.5% during FYs ending 31 March 2024 and 31 March 2023
(Amount in Lac)
Period |
31 Mar 2024 |
31 Mar 2023 |
31 Mar 2022 |
Total Assets |
1,702.39 |
475.50 |
226.38 |
Total Revenue |
2,026.38 |
808.26 |
390.75 |
PAT |
534.65 |
161.28 |
51.01 |
Net Worth |
1,203.62 |
288.51 |
127.23 |
Total Reserves & Surplus |
514.82 |
287.51 |
126.23 |
Borrowings |
19.04 |
- |
- |
Cash Flows
The cash flows for various activities are shown below:
(Amount in lac)
Net Cash Flow In Multiple Activities |
31 Mar 2024 |
31 Mar 2023 |
31 Mar 2022 |
Net Cash Flow Operating Activities |
189.53 |
235.61 |
-11.39 |
Net Cash Flow Investing Activities |
-574.59 |
-156.79 |
-17.44 |
Net Cash Flow Financing Activities |
398.02 |
- |
- |
Revenue Breakdown
(Amount in lac)
Particulars |
FY2023 |
FY2024 |
31 Mar 2024 |
Direct |
1,711.37 |
575.63 |
245.47 |
Sub-Contracting arrangements |
297.44 |
228.55 |
143.79 |
Total |
2,008.80 |
804.19 |
389.26 |
The Objective of the Issue
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
-
Financing the capital project to renovate the current studio and office in Andheri.
-
Capital projects are needed to finance the construction of a sound studio and color grading digital intermediate ("DI") in Andheri and for opening a new branch office.
-
Capitalize on launching a new branch office in Lucknow by financing its capital projects.
-
Diversifying an organization and its operations calls for financing capital expenditures that can buy computers, storage devices, and software, among other things to enhance the workplace cost.
-
Financing the increased need for working capital.
-
General corporate purposes.
Peers of Identical Brains Studios IPO Ltd.
Company Name |
Face Value (Rs.) |
EPS (Rs.) |
P/E (x) |
Prime Focus Ltd. |
1 |
-0.01 |
- |
Digikore Studios Limited |
10 |
19.04 |
24.68 |
Phantom Digital Effects Limited |
10 |
26.90 |
14.45 |
Basilic Fly Studio Limited |
10 |
17.69 |
32.47 |
Note:-
The basic EPS of the peers is for the financial year ended on 31 March 2024.
Evaluation
The Identical Brains Studios Limited IPO share price is Rs.51 to Rs.54 for each Share.
Evaluation of P/E Ratio
Considering the FY ended 31 Mar 2024 with an EPS of Rs.5.18 from the last year, the resulting P/E ratio is 10.42x.
Considering the weighted EPS of Rs.3.19 for the last three years, the P/E ratio is 16.93x.
Comparative Analysis With Listed Peers
The average P/E Ratio of the industry is 23.46x.
Particulars |
P/E Ratio (x) |
Highest |
32.47 |
Lowest |
14.45 |
Average |
23.46 |
In simple words, the P/E ratio of this IPO (10.42x), compared with the industry’s average P/E of 23.46x, has an undervaluation (on a P/E ratio basis only). Hence the price of the Share seems fully priced for the investors when considered based on the average P/E ratio of the industry.
IPO's Strengths
-
Operations in places that are financially appealing.
-
Infrastructure and technology were integrated.
-
Competent technical and artistic staff.
-
A solid reputation as a reliable supplier of visual effects services with connections across the entertainment sector.
-
An appealing business plan that offers strong prospects for long-term profit growth and cash flow generation together with notable revenue visibility.
-
Seasoned management group with connections in the industry and managerial, creative, and technological skills.
IPO’s Weaknesses
-
The company's operations are reliant on its partnerships with the major Bollywood studios, which include important executive and creative talent. Any decline in these relationships could have a significant and negative impact on its business.
-
The company works in the dynamic entertainment sector, which is influenced by quickly shifting consumer preferences and behavior. It also depends on the audience's acceptance of the content for which it provides visual effects services as well as the long-term viability of the franchises and brands that the clients create.
-
The company's revenue would probably decrease if the film and content makers produced and released less VFX content.
-
It is the right of filmmakers and content creators to withdraw, suspend, or terminate their contracts, an act that may affect their incomes as well as their future prospects and may also damage their reputations.
Identical Brains Studios IPO GMP
Identical Brains Studios IPO GMP today has not yet started as of 12 December 2024.
IPO Timetable (Tentative)
The IPO opening date is from December 18 to December 20, 2024, with allotment on December 23, refund initiation on December 24, and listing on December 26, 2024.
Events |
Date |
IPO Opening Date |
December 18, 2024 |
IPO Closing Date |
December 20, 2024 |
IPO Allotment Date |
December 23, 2024 |
Refund Initiation |
December 24, 2024 |
IPO Listing Date |
December 26, 2024 |
Identical Brains IPO Details
The IPO with a Face Value of Rs.10 per share offers a total issue size of 3,694,000 Shares (Rs.19.95 Cr).
IPO Opening & Closing date |
December 18, 2024 to December 20, 2024 |
Face Value |
Rs.10 per Share |
Issue Price |
Rs.51 to Rs.54 per Share. |
Lot Size |
2000 Shares |
Issue Size |
3,694,000 Shares (Rs.19.95 Cr) |
Offer for Sale |
- |
Fresh Issue |
3,694,000 Shares (Rs.19.95 Cr) |
Listing at |
NSE, SME |
Issue Type |
Book Built Issue IPO |
Registrar |
Bigshare Services Pvt Ltd. |
Identical Brains Studios IPO Lot Details
The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (2000 Shares) amounting to Rs.1,08,000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (4000 Shares) amounting to Rs.2,16,000.
Minimum Lot Investment (Retail) |
1 Lot |
Maximum Lot Investment (Retail) |
1 Lot |
HNI (Min) |
2 Lots |
IPO Reservation (% of Net Issue)
Institutional’s Portion |
50% |
Retail’s Portion |
35% |
Non-Institutional’s Portion |
15% |
Promoters And Management of Identical Brains Studios Ltd.
-
Raghvendra Rai.
-
Sameer Rai.
Pre-Issue Promoter Shareholding |
86.53% |
Post-Issue Promoter Shareholding |
- |
IPO Lead Managers
-
Socradamus Capital Private Limited.
Dividend Policy
The company has not paid dividends during the last three FYs.
Conclusion
The Identical Brains Studios IPO reveals a very promising opportunity in a developing VFX industry with tremendous financial growth and competitive pricing. The company's great achievements, such as awards won for its projects, stand to their credit, but the company depends significantly on partnerships with Bollywood studios and the dynamic trends of the entertainment industry. Investors must weigh strengths and risks against the valuation network.
Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
To Apply for the IPO, Click Here.
To Read the Prospectus of the Company Click Here to Download the DRHP.
DISCLAIMER: This is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.
Click Here to stay updated with the Upcoming IPOs.
Want to start Your Journey in stock market trading and investment? Join our Stock Market Class to become a beginner to expert trader! We cover everything from the basics of trading to advanced strategies for picking stocks. Plus, we're offering a special discount for women and students. Don't miss out - enroll now and kickstart your path to success in the stock market!
Open a world of Stock Market by Opening a Demat Account with your favorite Broking firm & Get a trading Strategy worth Rs.15,000!
Click here to open a Free Demat Account.
Thank You for reading this blog.
Hope you loved the IPO analysis.
Please Comment Below with your feedback because Your feedback motivates us to deliver more such content.
Follow MUKUL AGRAWAL for the latest IPO news and reviews. You can connect with us on social media platforms like Twitter, Facebook, and Instagram. You can also subscribe to our YouTube Channel for the latest videos of the stock.
Frequently Asked Questions
Rs.51 to Rs.54.
The IPO allotment date is December 23, 2024
December 24, 2024.