Chennai, October 21, 2022: PhantomFx – Chennai based Phantom Digital Effects Limited., one of the leading Creative Visual Effects (VFX) Studios in India achieved a milestone on Friday when it entered the SME IPO to sell its shares to the public for the first time and get listed in the NSE-Emerge Platform.
NSE members handed over the ‘Listing Certificate’ to the Company’s Board of Directors at an impressive IPO Listing Ceremony held here on Friday morning. PhantomFX is the first South Indian Company to enter the SME IPO. A host of guests, representing the clientele base, including film directors and cinematographers were present at the ceremony.
PhantomFX, which had been making strides in India’s fast growing animated and VFX industry with its stunning visual effects for a host of feature films, TV shows and commercials, across the world, proposed to raise Rs 29 crore through the IPO. “The response has been tremendous ever since the company announced its decision to enter the SME IPO, a few months ago and received a whopping 1.7 lakh applications for buying the shares,” said Mr Rajinikanth, PhantomFx Chief Financial Officer.
Phantom Digital Effects IPO is a SME IPO of 3,063,600 equity shares of the face value of Rs 10 aggregating up to Rs 29.10 crores. This issue is priced at Rs 91 to Rs 95 per share. The IPO opened on October 12, 2022 and closed on October 14, 2022.
When the Life Insurance Corporation of India (LIC) came out with the largest ever public issue in the history of Indian capital markets to raise Rs 15,000 crore recently, it had received 7 lakh applications for subscription. Compared to this, PhantomFX has received 1.7 lakh applications for Rs 29 croers, which is phenomenal. “This shows people’s trust with the company,” Mr Rajinikanth said.
He said the promoters would hold 65 percent of the shares and the remaining 35 percent would be with the public. The money raised through the public issue would be invested into the expansion projects, he said. “This is only the beginning. The company has set up an ambitious plan to enter NASDAQ, the American stock exchange after achieving 2,000 plus placements in the next three years,” he said.
Describing the entry of the company into the SME IPO a historical event, Mr Bejoy Arputharaj, Founder, Managing Director and CEO of PhantomFx said “this day marks an important milestone in the company’s endeavor to scale greater heights. The response to the IPO is tremendous. This has increased our responsibility to live up to the expectations of the public and our trusted clients,” he said.
Asserting that the VFX and Animation sector is one of the fast-growing and emerging businesses with potential to grow tremendously in the future, he said PhantomFx is gearing up to take full advantage and position itself as a premier VFX company globally. The company plans to set up high end Digital studies in Cochin and Hyderabad and expand its existing facilities in Chennai and Mumbai in a big way.
“The Mumbai studio is set for inauguration on December 1 this year. We have already recruited about 250 people,” he said, adding the Cochin and Hyderabad studios would be ready for operation by March next year. The company has also decided to expand its present Digital Studio located at Ambattur, a Chennai suburb and set up Digital studios in Tier II cities like Coimbatore and Madurai in Tamil Nadu, Mr Bejoy Arputharaj said.
“PhantomFx, a Trusted Partner Network (TPN) company, is planning to spread its wings overseas by setting up High-End Digital Studios to become a Global industry leader in the next couple of years,” he said. Plans are afoot to establish world class Digital studios at Vancouver and Montreal in Canada, Log Angeles and Delaware in the US, United Kingdom and Dubai. “We are also ambitious to explore other potential offshore markets,” Mr Bejoy Arputharaj said adding, in all, “we will be investing about 1 Million US dollars’.
On the company’s profile, Mr Binu Joshua Sam, Director and COO, said PhantomFx is presently contributing to the production, pre and post production of feature films, web series, tele-serials, games, commercials, animated movies and business promotions. PhantomFx has made it big in a host of Hollywood, Bollywood, Kollywood and Tollywood films. The company has created Visual Effects for Tamil and Telugu movies, which included Vijay’s Beast, Kamal Hassan’s Vikram, Rajamouli’s epic and action drama RRR and Suriya’s Jai Bhim. The company has also provided stunning Visual Effects to an array of Hollywood and Bollywood movies and the list is long, Mr Binu said.
“We support production houses by providing end to end services. Our complete package of visual effects does miracles to bring one’s vision to reality, be it set extensions or creating creatures crawling in the backyard,” he said. To put it in a nutshell, “We are capable of creating surreal worlds, breathing life into fantasy and myths,” Mr Binu added. Since PhantomFx was established in 2011, we have consistently been named one among the best VFX Studios in India, providing creative services across the globe, he said.
Mr Binu said the company is catering to its clients in Hollywood through its administrative office in Los Angeles. “Our robust and talented team of 300 artists worked round the clock to roll out the best in the industry,” he added. Being a TPN compliant and certified company, Phantom ensures that any production walking through our doors can rest assured that their content is in reliable and secure hands, Mr Binu said.
PhantomFx has been globally recognized for its exemplary work and has won several awards from National and International presenters. He said the company has received the TPN (Trusted Partner Network) Certificate, recognized by the Motion Pictures Association of America (MPAA), a global industry wide film and television content protection initiative. This is the highest recognition in terms of data security for the VFX industry across the Globe, he said. END
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