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Identical Brains Studios files DRHP with NSE Emerge for upcoming IPO
The IPO will use a book-building process, with Socradamus Capital as the lead manager and Bigshare Services as the offer registrar.
Identical Brains Studios, a VFX company, announced the filing of its Draft Red Herring Prospectus (DRHP) with NSE Emerge. The company’s initial public offering comprises a fresh issuance of up to 36,94,000 Equity Shares with a face value of Rs. 10.00, through the book-building route.
Socradamus Capital is the sole book running lead manager to the offer, and Bigshare Services is the registrar to the offer.
The Mumbai-headquartered company offers a comprehensive suite of VFX services in a diverse range of projects such as films, web series, TV series, documentaries, and commercials. Its customers include some of the film and content producers, including Bollywood Studios.
According to the DRHP, Identical Brains Studios plans to use the IPO proceeds for office renovations in Andheri, establishing a Colour Grading Digital Intermediate and Sound Studio at a new Andheri branch, setting up a new branch office in Lucknow, purchasing computers and software, meeting working capital needs, and general corporate purposes.
As a TPN-audited VFX studio, Identical Brains Studios is set to provide VFX solutions that meet US and European standards. The company has received project approvals from Disney Hotstar and Amazon.