Identical Brains plans to go public

New Delhi: Visual Effects (VFX) firm Identical Brains Studios on Monday announced its plan to go public with an initial public offer and aims to achieve revenue of over Rs 56 crore by FY2026. The Mumbai-headquartered VFX company has posted a revenue of Rs 20 crore and a profit after tax of Rs 4.9 crore in the fiscal 2023-24. It aims to achieve revenue of up to Rs 32 crore in the current financial year, a company statement said.

According to the statement, the company, known for its work in the film and entertainment industry, announced its plans to go public. Leveraging its presence in Mumbai, Palghar (in Maharashtra), and Lucknow, the company is planning to achieve a revenue of up to Rs 56 crore by 2026, it stated. The company has appointed Socradamus Capital Private Ltd as the book-running lead manager for the initial public offer (IPO). Identical Brains Studios (IBS) has carved out a reputation for delivering cutting-edge VFX solutions, collaborating with top-tier studios and streaming giants.