Picturepost Studios
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 02 Aug 2024 – 06 Aug 2024
- Listing date
- 09 Aug 2024
- Face value
- ₹1 per share
- Issue price
- ₹24 per share
- Lot size
- 6,000 shares
- Total issue size
- ₹18.72 Cr
- Market cap at offer price
- ₹70.32 Cr
- Promoter holding
- 93.02% → 68.27% pre-issue → post-issue
- ISIN
- INE0YAL01017
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Shreni Shares Ltd.
- Registered office
- 701, 7th Floor, Sapphire Building, Junction of S.V.Rd, Rd & 1st Rd, Khar (W), Khar Colony, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 22,08,000 | — | — |
| Market maker | 3,96,000 | — | — |
Application size
Minimum 6,000 shares per lot, in multiples, at ₹24
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 6,000 | ₹1,44,000 |
| S-HNI (min) | 2 | 12,000 | ₹2,88,000 |
| S-HNI (max) | 6 | 36,000 | ₹8,64,000 |
| B-HNI (min) | 7 | 42,000 | ₹10,08,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 1.60 | 1.17 |
| P/E (×) | 15.00 | 20.51 |
| Price to book (×) | 7.36 | — |
| Market cap | — | ₹70.32 Cr |
Key performance indicators
- Return on net worth
- 55.64%
- ROCE
- 26.75%
- Debt / equity
- 0.79
- PAT margin
- 13.29%
- NAV per share
- ₹3.26
- Price to book
- 7.36
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Picturepost Studios
Picturepost Studios Limited, established in 2019 as a Limited Liability Partnership and converted to a private limited company in 2023, is a creative post-production studio based in Mumbai. The Company operates two studio locations covering approximately 5,300 square feet and provides comprehensive post-production services including offline editing, CGI, visual effects, color grading, mastering, and online editorial services. With a team of 105 professionals, the Company has earned TPN (Trusted Partner Network) certification from the Motion Picture Association (MPA) in the USA, signifying compliance with global content security standards. The Company has generated revenue from a diverse portfolio including web series, feature films, and commercial advertisements, with prominent projects including work on 'Bade Miyan Chote Miyan', 'Panchayat Season 3', and 'Half CA'. The Company earns revenue primarily from advertisement post-production services, supplemented by emerging revenue from films and web series.
Company Analysis
from RHPPicturepost Studios Limited is a post-production company specializing in visual effects, film editing, color grading, and digital intermediates for films, commercials, and web series across the entertainment industry.
Picturepost Studios Limited, established in 2019 as a Limited Liability Partnership and converted to a private limited company in 2023, is a creative post-production studio based in Mumbai. The Company operates two studio locations covering approximately 5,300 square feet and provides comprehensive post-production services including offline editing, CGI, visual effects, color grading, mastering, and online editorial services. With a team of 105 professionals, the Company has earned TPN (Trusted Partner Network) certification from the Motion Picture Association (MPA) in the USA, signifying compliance with global content security standards. The Company has generated revenue from a diverse portfolio including web series, feature films, and commercial advertisements, with prominent projects including work on 'Bade Miyan Chote Miyan', 'Panchayat Season 3', and 'Half CA'. The Company earns revenue primarily from advertisement post-production services, supplemented by emerging revenue from films and web series.
Objects of the Issue
- Funding of capital expenditure requirements of our Company towards purchase of equipment and Software ₹803.76 Lakhs p.72
- Repayment/prepayment of all or certain of our borrowings availed by our Company ₹500.00 Lakhs p.72
- General Corporate Purpose [●] Lakhs (not exceeding 25% of Gross Proceeds) p.72
Issue Structure
- Total Issue
- Up to 78,00,000 Equity Shares aggregating up to ₹[●] Lakhs
- Fresh Issue
- Up to 78,00,000 Equity Shares of face value of ₹1/- each aggregating up to ₹[●] Lakhs
- Offer for Sale
- Not Applicable as the entire Issue constitutes Fresh Issue of Equity Shares
- Price Band
- Floor Price: ₹[●] per Equity Share; Cap Price: ₹[●] per Equity Share
- Lot Size
- [●] Equity Shares and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹1/- per Equity Share
Business Model
Picturepost Studios generates revenue on a tranche basis, where fees are charged for each completed service on a pre-determined basis. The Company receives approximately 96.90% of revenue from commercial advertisement post-production, with the remaining 3.10% from films and OTT platforms (as of FY24). The Company works closely with producers, directors, production houses, and filmmakers, providing customized post-production solutions ranging from concept to final delivery. Revenue is recognized upon final distribution of services.
Business Segments
SWOT Analysis
- • Strong relationships with marquee clients through track record of service delivery(p.111)
- • TPN certification demonstrating security and content protection standards(p.111)
- • Innovation in post-production techniques and delivery efficiency(p.111)
- • Proprietary technology platform enabling scalability and operational efficiency(p.111)
- • Portfolio of acclaimed projects across diverse formats and leading brands(p.109)
- • Significant dependency on limited number of major customers(p.110)
- • Dependence on key skilled personnel in specialized VFX field(p.31)
- • Significant outstanding litigations involving promoters and company(p.27)
- • Substantial debt burden relative to equity base(p.33)
- • Promoter lacks traceable educational qualifications documentation(p.30)
- • Expanding OTT and web content production driving demand for VFX services(p.103)
- • Strong growth in Indian animation, VFX, gaming and comics sector(p.103)
- • Increasing digital adoption and internet penetration in India(p.103)
- • Expand current business relationships with existing and new clients(p.112)
- • Growing international VFX outsourcing to India at competitive costs(p.103)
- • Intense competition from established and new VFX service providers(p.30)
- • Rapid technological obsolescence requiring continuous equipment and software upgrades(p.31)
- • Economic slowdown affecting advertising and entertainment spending(p.40)
- • Changes in regulations affecting film and digital content industry(p.127)
- • Operational dependence on leased premises with renewal risks(p.32)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Parish Tekriwal | Promoter | 46.04% | 33.79% |
| Mr. Shailendra Ishwardas Chandgotia | Promoter | 23.49% | 17.24% |
| Ms. Deepa Shailendra Chandgothia | Promoter | 23.49% | 17.24% |
| Ms. Pooja Shailendra Chandgothia | Promoter | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.