PhantomFX plans to raise funds via SME IPO | The Financial Express

PhantomFX plans to raise funds via SME IPO

The company said it is aiming to raise a sizeable amount through the issue. PhantomFX, which creates visual effects for feature films, webseries and commercials, has also drawn up expansion plans in India and abroad.

PhantomFX plans to raise funds via SME IPO
The company said it is aiming to raise a sizeable amount through the issue

Chennai-based creative visual effects (VFX) studio Phantom Digital Effects (PhantomFX) has decided to raise funds via an SME IPO with fresh equity shares to the public, and to get listed on the NSE-EMERGE platform.

The company said it is aiming to raise a sizeable amount through the issue. PhantomFX, which creates visual effects for feature films, webseries and commercials, has also drawn up expansion plans in India and abroad.

Founder, MD & CEO Bejoy Arputharaj said, “PhantomFX, a trusted partner network certified company, 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.”

The company plans to set up studios in Kochi, Hyderabad, Coimbatore and Madurai. It is also eyeing expansion of it existing facilities in Chennai and Mumbai. “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,” he said.

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It also plans to set up studios in Vancouver and Montreal in Canada, Los Angeles and Delaware in the US, the United Kingdom, and Dubai. “We are also ambitious about exploring other potential offshore markets,” he said, adding, “in all, we will be investing about $1 million”.

PhantomFX also plans 2,000-plus placements within three years, Bejoy said. The company will collaborate with universities and other educational institutions that produce VFX talent for placements.

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