PhantomFX to raise funds via SME IPO; details here

Chennai-based visual effects (VFX) studio PhantomFX has decided to get listed on the stock exchanges. The creative VFX studio is planning to raise funds via a Small and Medium Enterprises initial public offering (SME IPO). PhantomFX aims to get listed on the NSE-EMERGE platform. The company has also drawn up plans for expansion in both India and abroad, with a total investment of Rs 40 crore. The studio has also announced its plans for raising funds on social media. It also stated that the plans will elevate its status as a global leader in the next few years.

“PhantomFX is planning to spread its wings across the globe by setting up high-end digital studios that would elevate our global presence as an industry leader in the next couple of years,” founder, MD and CEO Bejot Arputharaj stated.

The company wants to set up high-end digital studios in Kolkata, Madurai, Coimbatore and Hyderabad. PhantomFX is also planning to expand its existing facilities in Mumbai and Chennai. “Currently, we are operating in a 25,000 sq ft area and the studios will be expanded to 1 lakh sq ft area by March next year,” the statement mentioned. PhantomFX is also planning to offer substantial job opportunities in the field of VFX, promising over 2,000 placements within three years.

PhantomFX also aims to establish world-class digital studios in Dubai, the United Kingdom, Los Angeles and Delaware in the United States and Montreal and Vancouver in Canada. Arputharaj stated that the studio aims to explore other potential offshore markets,” adding, “in all, we will be investing about $1 million”.

PhantomFX has worked for several Indian films including Kamal Haasan’s Vikram, SS Rajamouli’s RRR, Vijay’s Beast as well as Ranbir Kapoor’s Brahmastra. The studio will be the first one in southern India to enter the SME IPO.

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