21st July 2023,Mumbai: Basilic Fly Studio Limited (BFS), a prominent VFX studio in India, is set to enter the primary market with an IPO of up to 68,40,000 equity shares, aiming to raise ₹65 crores to ₹70 crores. The company’s remarkable track record and strong financial performance position it for success in the VFX and animation industry.
A Rich Portfolio of Successful Projects:
BFS boasts an impressive portfolio, having completed over 10,000 projects, including 900 movies, 2,000 series, and 8,000 commercials. With a dedicated team of 450 talented individuals, the studio caters to a diverse clientele of over 300 clients across various industries, operating from offices in Chennai, Pune, London, and Vancouver.
India’s Thriving VFX Industry:
India has become a significant VFX hub, serving both domestic and international markets. The demand for VFX and animation services has surged due to the rise in content consumption driven by streaming companies. The global VFX market is projected to witness robust growth, reaching $48.9 billion by 2028 at a CAGR of 10.9%.
Strategic Plans to Leverage Growth:
Capitalizing on its decade of experience, innovative approach, and technological strengths, BFS aims to leverage the growing demand for VFX and animation. The funds raised through the IPO will support the company’s expansion plans in the United States and Western Europe, invest in technological advancements, and strengthen its working capital. BFS also plans to establish two new facilities in India.
Strong Financial Performance:
In the fiscal year 2022-2023, BFS reported total revenues of ₹78.95 crore and a net profit of ₹27.74 crore, highlighting its robust financial performance and market position. These figures indicate the company’s ability to deliver consistent results in a competitive market.
Experienced Management and Advisors:
GYR Capital Advisors Private Limited, a reputed firm, has been appointed as the Book Running Lead Manager to the Issue, ensuring a smooth IPO process. Purva ShaRegistry India Private Limited will serve as the Registrar to the Issue, further strengthening the management team’s capabilities.
Seizing the Market Opportunities:
With its impressive portfolio, commitment to technological innovation, and strategic expansion plans, Basilic Fly Studio is poised to capitalize on the growing market opportunities in the VFX and animation industry. The increasing demand for captivating visual effects in movies, series, and commercials positions BFS for a bright future in the dynamic world of VFX.
BFS’s decision to go public with an IPO marks a significant milestone in the company’s journey. As the demand for VFX and animation services continues to rise globally, BFS is well-positioned to carve a niche for itself in the industry. With its experienced team, innovative approach, and expansion plans, the studio is set to soar to new heights and make its mark on the international stage.