V R Films & Studio Limited IPO

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(i) They are engaged in the business of providing complete localization services for television, film and digital industry, which consists of dubbing, mixing, subtitling, content editing and content localization services for movies, documentaries, audiobooks, games and TV programmes in regional and international languages.

(ii) They also acquire foreign language films mainly from Hollywood and Chinese film industry and dub them in Indian Local language (Hindi, Tamil, Telugu etc.) and then distribute them theatrically or sublicense to sub-distributors
across all licensed territories in all licensed languages including English.
Dubbing is a post-production process used in filmmaking, video production and animation in which additional or supplementary recordings are mixed with original production sound to create the finished soundtrack for Original and localized content.

(iii) They operate their activities from the registered office and studios located in Mumbai. The company has 3 dubbing studios obtained on rent in Mumbai.

(iv) The  list of clients includes some of the renowned names in Films and Television Industry such as Viacom 18 Media Private Limited, Sony Pictures Networks India Private Limited, Zee Entertainment Enterprises Limited, Discovery Communications India, Paramount Pictures Corporation, Paramount Pictures International Limited etc.

(v) Mr. Manish Satprakash Dutt, Managing Director and one of the Promoters of our Company has an overall experience of over 25 years in the media and entertainment sector.

The Key Managerial Personnel is backed up with the team comprising of 28 employees.

Objects of the V R Films & Studio Limited IPO:

The Company intends to utilize the Issue Proceeds towards the following objects: a) To Meet Working Capital Requirements b) General Corporate purpose and c) To Meet the Issue Expenses

V R Films & Studio Limited IPO Details:

Open Date: Apr 12 2019
Close Date: Apr 18 2019
Total Shares: 372000
Face Value: ₹ 10 Per Equity Share
Issue Size: 2.77 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 61 Per Equity Share
Listing At: BSE SME
Listing Date: Apr 26 2019

Promoters And Management:

(i) Mr. Manish Satprakash Dutt, aged 51 years, is the Managing Director and Promoter of our Company. He has been associated with the Company since Incorporation. He holds a Bachelors Degree in Science from St. Xavier‘s College, Mumbai. He has passed LL.B examination (first year) from Government Law College, Mumbai. He has more than 26 years of vast and varied experience in the media and entertainment sector. He is instrumental in formulating and implementing strategy and plays a pivotal role in business development, sales, administration and finance functions of our Company. 2. Mr. Krishi Satprakash Dutt, aged 52 years, is the Whole-Time Director and Promoter of our Company. He has been associated with the Company since Incorporation. He holds a Bachelor‘s Degree in Science from St. Xavier‘s College, Mumbai. He also holds a degree in business management from Xavier Institute of Management, Mumbai. He has completed a diploma in fashion designing from JD Institute of fashion technology. He has also completed the Management Development Programme in finance for Non - Finance Executives from Indian Institute of Management, Lucknow. He has rich experience of 30 years in the textile, apparel & fashion industry and CSR domain impacting lives and ecosystem.

Financials of V R Films & Studio Limited IPO:

Year Revenue(Lakh) Expense(Lakh) PAT(Lakh) EPS
2016 627 610 3.26 0.23
2017 611 568 27.42 2.00
2018 1283 1140 97.47 7.10

Comparison With Peers:

There is no peer in the market to compare with the company.

Recommendation on V R Films & Studio Limited IPO:

Review and Recommendation of V R Films & Studio Limited IPO from IZ Team is : 2/10 [ The financials have shown spike in FY18 just before the IPO is raising concern. The business of dubbing is highly competitive. The issue is priced at P/E of 8.71 on the basis of FY18 financials.]

Lead Manager of V R Films & Studio Limited IPO:

  1. Hem Securities Limited

Registrar of V R Films & Studio Limited IPO:

  1. Link Intime India Private Limited

Bid Details of V R Films & Studio Limited IPO as on
18 Apr 2019 | 11:58:03 PM

Category No.of shares offered No. of shares bid
176,000 264,000
176,000 274,000
20,000 20,000
372,000 558,000
QIBs No
QIBs+HNIs Subscription 1.50X
Retail Subscription 1.56X
Total Subscription 1.53X

Discussion on V R Films & Studio Limited IPO: