Basilic Fly Studio, Leading VFX Studio in India, Announces IPO Plans to Fuel Expansion and Technological Innovation

India has emerged as a prominent hub for visual effects, with both foreign-owned and locally-owned VFX studios meeting the increasing demand for VFX and animation. The surge in content consumption driven by streaming companies has led to a significant rise in the demand for VFX and animation services. As a result, the global market revenue for VFX is projected to grow at a compound annual growth rate (CAGR) of 10.9%, from $26.3 billion in 2021 to $48.9 billion in 2028.

Leveraging its decade of experience, innovative approach, and technological strengths, BFS aims to capitalize on the growing demand for VFX and animation. The company intends to raise funds through the SME IPO to fuel its 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 within India.

In the fiscal year 2022-2023, BFS reported total revenues of ₹78.95 crore and a net profit of ₹ 27.74 crore, reflecting its strong financial performance and market position.

GYR Capital Advisors Private Limited has been appointed as the Book Running Lead Manager to the Issue, while Purva ShaRegistry India Private Limited will serve as the Registrar to the Issue.

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.

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