⌘K
Incorporated in year 2007, we are a production-house engaged in the business of originating, creating, developing, producing, marketing and distribution of films, TV serials and web series (“Projects”). Since our incorporation, we have produced various prominent works in modern Indian cinema. Our debut production ‘Force’, under our banner was a box office hit. Since then, we have produced and distributed prominent, commercial and socially relevant films such as ‘Commando: A One-Man Army’, ‘Holiday: A soldier is never off duty’, ‘Force 2’, ‘Commando 2: The black money trail’, ‘The Kerala Story’
The company exhibits strong market sentiment, experienced promoters, and a recognized brand. However, these positives are significantly overshadowed by a concerning trend of declining revenue and profits over the last three financial years. While the P/E valuation is fair, the Price-to-Book is high.
Extremely strong market sentiment, high subscription rates across all categories, and a healthy GMP indicate a high probability of listing gains despite underlying financial concerns.
While listing gains are likely, the recent decline in financial performance and high P/B valuation suggest limited upside potential in the short term post-listing, unless new positive catalysts emerge quickly.
The significant and consistent decline in revenue and PAT over the last three years raises serious concerns about the company's long-term growth trajectory and sustainability of profits, making it a risky long-term investment despite strong promoters and brand.
Listing-day performance is not available yet. It will appear here once this IPO has listed and results are recorded.
| Category | Shares Offered | % of Issue | Share |
|---|---|---|---|
| QIB | 39,18,576 | 50% | |
| NII (HNI) | 11,75,592 | 15% | |
| Retail | 27,43,023 | 35% |
| Investor | |||
|---|---|---|---|
| INNOVATIVE VISION FUND | 1,38,890 | ₹5 Cr | 5.91% |
| KHANDELWAL FINANCE PVT.LTD. | 2,77,778 | ₹10 Cr | 11.81% |
| ARNESTA GLOBAL OPPORTUNITIES FUND PCC-ARNESTA GLOBAL FUND 1 | 1,38,890 | ₹5 Cr | 5.91% |
| UNI GROWTH FUND | 5,55,550 | ₹20 Cr | 23.63% |
| ZEAL GLOBAL OPPORTUNITIES FUND | 2,77,816 | ₹10 Cr | 11.82% |
| VISIONARY VALUE FUND | 1,38,890 | ₹5 Cr | 5.91% |
| ASIO FUND VCC,THE-SUB FUND 4 | 2,77,778 | ₹10 Cr | 11.81% |
| SHINE STAR BUILD-CAP PVT.LTD. | 2,77,778 | ₹10 Cr | 11.81% |
| LRSD SECURITIES PVT.LTD. | 2,67,770 | ₹9.64 Cr | 11.39% |
Premium gain of 17.22% over issue price.
Experienced promoters with a strong track record of successful film productions.
Strong brand recognition from popular and commercially successful films like 'The Kerala Story'.
High promoter holding post-IPO (74.84%).
Low debt levels and strong debt servicing capability.
High return ratios (ROE, ROCE, RoNW) in recent years, despite a declining trend.
Robust market sentiment with very high subscription rates across all categories and a healthy GMP.
Clear growth strategies to expand production capacity and diversify portfolio.
Successful launch of new high-grossing films/web series, effective diversification into new media, expansion of production capacity, and strong content pipeline.
Steady content production, moderate success of new projects, and maintaining current market position.
Failure of key projects, increased competition, inability to adapt to changing media consumption trends, and adverse regulatory changes.
Positive: Strong market sentiment with overall subscription of 105.81x and GMP of 17.22%.
Red flag: declining/negative profit trajectory (CAGR -13.4%)
Advisory: litigation disclosed (advisory, not a specific severe matter)
Listing-gain vs long-term: Apply / Neutral.