Shares of VFX firm Identical Brains Studios got listed on NSE SME platform on Thursday at Rs 95, which reflects an impressive premium of 76% against its IPO issue price of Rs 54.The SME IPO, which opened for subscription on December 18, ended on December 20. The company raised Rs 20 crore through the fundraising exercise on the NSE SME platform.Identical Brains Studios is a TPN audited visual effects (VFX) studio, offering comprehensive suite of VFX services in diverse range of projects such as films, web series, TV series, documentaries, and commercials.According to RHP, Identical Brains intends to utilise Rs 51.78 lakh of the net proceeds from the IPO to fund capital expenditure towards the renovation of the existing office and studio in Andheri.Also read | Sensex forecast to conquer fresh record high of 90,000 in 2025: ETMarkets PollBesides, it plans to invest Rs 2.86 crore to fund Colour Grading Digital Intermediate (DI) and Sound Studio, Rs 75.56 Lakhs to fund new branch office in Lucknow, Rs 3.43 crore for purchase of computers, storage systems and software and Rs 7.04 crore to fund company's incremental working capital requirements. The remaining capital will be used for general corporate purposes.The portfolio of the company includes upcoming project Criminal Justice 4, and completed projects include Khel Khel Mein, Murder in Mahim, Tanaav 2, Bad Cop, The Crew, Article 370, Mission Raniganj, Dream Girl 2, Indian 2, Rocket Boys, Bob Biswas, Kutch Express, Ek Villian Returns, Night Manager, Criminal Justice 3, Phone Bhoot, Satyamev Jayate 2, Angrezi Medium, Scam 1992: The Harshad Mehta Story, Good Newwz, Panipat and many more. The company has won two Filmfare OTT Awards for Best Visual Effects for Scam 1992: The Harshad Mehta Story (2020) and Rocket Boys (2022) in association with Variate Studios LLP.IBS has posted Rs 11.39 crore revenue from operations in the first half of the current financial year ended September 30, 2024, with a profit (PAT) of R 2.4 crore, compared to Rs 20.08 crore revenue from operations and a profit (PAT) of Rs 5.34 crore in the financial year 2024.
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