Identical Brains Studios (Identical Brains Studios IPO) has taken steps for a blockbuster entry in the stock market. The company's IPO was open from 18 December to 20 December. Its listing in the stock market is to be done on 26 December. However, even before the listing, the GMP of Identical Brains Studios IPO has created a stir in the stock market. 

Got tremendous subscription

On the first day itself, this IPO was subscribed 30.25 times. Specifically, it received 49.46 times subscription in the retail category, 22.43 times in the NII category and 2.61 times in the QIB category. On the second day, the issue gained further momentum and reached a total subscription of 145.44 times. In this, retail investors participated 223.27 times, NII investors 135.09 times and QIB investors 17.43 times.

How much is GMP

The company will be listed on December 26. There is strong demand for it in the grey market, which is indicating a listing gain of 92.59 percent. It may be listed at Rs 104 as against the issue price of Rs 54.

Where will the funds be used

The money raised from the IPO will be used for the expansion and modernization of the company. According to reports, this money will be used to make the Andheri office hi-tech. Open a new branch office in Lucknow. Establish color grading, digital intermediate (DI), and sound studio. Purchase of hi-tech computers, storage systems and software. Meeting working capital and other requirements.

Company services and client base

Identical Brains Studios provides VFX services for web series, TV shows, documentaries and advertisements. Its major clients include renowned Bollywood studios and producers.

Strong financial performance

The financial performance of the company has been excellent. Net profit in FY24 was Rs 5.34 crore, which is three times more than Rs 1.61 crore in FY23. Operating revenue reached Rs 20.08 crore in FY24, which was Rs 8.04 crore in FY23.

Good opportunity for investors

Given the growing demand in the VFX industry and the company's improved performance, this IPO can become an attractive opportunity for investors. The company's expansion plans and growing revenue can make it a strong player in the long term.