Vels Film International
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 10 Mar 2023 – 14 Mar 2023
- Listing date
- 22 Mar 2023
- Face value
- ₹10 per share
- Issue price
- ₹99 per share
- Lot size
- 1,200 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹33.74 Cr
- Market cap at offer price
- ₹128 Cr
- Promoter holding
- 100.00% → 73.52% pre-issue → post-issue
- ISIN
- INE0I3H01019
- Registrar
- Cameo Corporate Services Ltd.
- Lead managers
- Khambatta Securities Ltd.
- Registered office
- No.521/2, Anna Salai Nandanam, Tamil Nadu
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 1,72,800 | — | — |
Application size
Minimum 1,200 shares per lot, in multiples, at ₹99
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,18,800 |
| S-HNI (min) | 2 | 2,400 | ₹2,37,600 |
| S-HNI (max) | 8 | 9,600 | ₹9,50,400 |
| B-HNI (min) | 9 | 10,800 | ₹10,69,200 |
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.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 3.56 | — |
| P/E (×) | 27.81 | — |
| Market cap | — | ₹128 Cr |
Key performance indicators
- Return on net worth
- 23.35%
- NAV per share
- ₹19.78
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Vels Film International
Vels Film International Limited was incorporated in Chennai on October 25, 2019 under the Companies Act, 2013 and is 'primarily in the business of production of films and sale of film rights', formed out of promoter Dr. Ishari K. Ganesh's vision to produce feature films in various languages, with particular focus on the Tamil film industry, which the document describes as the third biggest in India. Since incorporation it has produced/released Tamil films including Mookuthi Amman (released on Disney+ Hotstar on November 14, 2020), Kutty Story (released February 12, 2021) and Vendhu Thanindhathu Kaadu (released September 15, 2022), and has sold the rights of two further Tamil films, Sumo and Joshua Imai Pol Kaakha, with several more titles in production for FY 2023-24. The company monetises its films by selling or licensing theatrical (domestic and overseas), satellite, digital, music and dubbing rights to distributors and platforms. Through its subsidiary VELS Studios and Entertainment Private Limited (formerly Innovative Studios Private Limited, taken over effective July 26, 2021 pursuant to an NCLT-approved compromise scheme), the group also owns a 49.69-acre film city/studio complex at Bidadi, Karnataka, which generates revenue from location hires (e.g., regional reality shows such as Big Boss) and is constructing amusement, water and theme parks expected to be completed around FY 2024. Standalone revenue grew from nil in FY 2020 to Rs. 2,601.37 lakhs in FY 2021 and Rs. 2,735.83 lakhs in FY 2022 (standalone PAT Rs. 469.48 lakhs), with consolidated total revenue of Rs. 4,718.97 lakhs for the six months ended September 30, 2022.
Company Analysis
from RHPVels Film International Limited is primarily in the business of production of films (predominantly Tamil-language) and sale of film rights, with a subsidiary that operates a film city/studios and is building amusement, water and theme parks.
Vels Film International Limited was incorporated in Chennai on October 25, 2019 under the Companies Act, 2013 and is 'primarily in the business of production of films and sale of film rights', formed out of promoter Dr. Ishari K. Ganesh's vision to produce feature films in various languages, with particular focus on the Tamil film industry, which the document describes as the third biggest in India. Since incorporation it has produced/released Tamil films including Mookuthi Amman (released on Disney+ Hotstar on November 14, 2020), Kutty Story (released February 12, 2021) and Vendhu Thanindhathu Kaadu (released September 15, 2022), and has sold the rights of two further Tamil films, Sumo and Joshua Imai Pol Kaakha, with several more titles in production for FY 2023-24. The company monetises its films by selling or licensing theatrical (domestic and overseas), satellite, digital, music and dubbing rights to distributors and platforms. Through its subsidiary VELS Studios and Entertainment Private Limited (formerly Innovative Studios Private Limited, taken over effective July 26, 2021 pursuant to an NCLT-approved compromise scheme), the group also owns a 49.69-acre film city/studio complex at Bidadi, Karnataka, which generates revenue from location hires (e.g., regional reality shows such as Big Boss) and is constructing amusement, water and theme parks expected to be completed around FY 2024. Standalone revenue grew from nil in FY 2020 to Rs. 2,601.37 lakhs in FY 2021 and Rs. 2,735.83 lakhs in FY 2022 (standalone PAT Rs. 469.48 lakhs), with consolidated total revenue of Rs. 4,718.97 lakhs for the six months ended September 30, 2022.
Objects of the Issue
- Film production (funding Tamil language film projects) Rs. 2,800.00 lakhs p.70
- General Corporate Purpose Rs. 513.92 lakhs p.71
- Issue Expenses Rs. 60.00 lakhs p.71
Issue Structure
- Total Issue
- Rs. 3,373.92 Lakhs (up to 34,08,000 Equity Shares at Rs. 99 per share)
- Fresh Issue
- Up to 34,08,000 Equity Shares of face value Rs. 10 each fully paid for cash at Rs. 99.00 per Equity Share aggregating Rs. 3,373.92 Lakhs (100% of the issue; includes Market Maker Reservation Portion of 1,72,800 Equity Shares aggregating Rs. 171.07 Lakhs; Net Issue 32,35,200 Equity Shares aggregating Rs. 3,202.85 Lakhs)
- Offer for Sale
- N.A. - not applicable as the entire issue constitutes a fresh issue of equity shares
- Price Band
- Fixed Price Issue - Issue Price Rs. 99 per Equity Share (9.90 times the face value); no price band
- Lot Size
- 1,200 Equity Shares and in multiples of 1,200 thereafter (minimum allotment 1,200 Equity Shares)
- Face Value
- Rs. 10 each
Business Model
The Company earns revenue by producing films and selling or licensing their exploitation rights - theatrical (domestic & overseas), dubbing, satellite, music, digital and sale/transfer of rights - to distributors and platforms; its subsidiary additionally earns from film-city location hire, park entry charges, food courts, conference halls and events.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Dr. Ishari Kadhirvelan Ganesh | Promoter | 99.33% | 73.10% |
| Dr. Arthi Ganesh | Promoter Group | 0.38% | 0.28% |
| Ms. Preethaa Ganesh | Promoter Group | 0.09% | 0.07% |
| Ms. Pushpavelan | Promoter Group | 0.09% | 0.07% |
| Ms. Kushmitha Kadhirvelan Ganesh | Promoter Group | 0.09% | 0.07% |
| Ms. Kamala Kannan Ashwin Kumar | Promoter Group | Negligible | Negligible |
| Ms. Nithya Kalyani | Promoter Group | Negligible | Negligible |
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.