Institutional Alpha Dossier
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MAINBOARD
SYNCING
GMP: ₹-
Est. Listing: Calculating...
01
Bidding Opens
-
Issue Open
02
Bidding Closes
-
Closing Date
03
Basis of Allotment
-
Registrar Finalization
04
Exchange Listing
-
Secondary Debut
Issue Price Valuation
₹-
Upper Cap Price
Price Band Cap:
Book Built / Fixed
Lot Size & Retail Matrix
- Shares
Minimum Market Lot
Min Capital:
₹-
Application Size:
-
Quant Grade & Moat Score
Proprietary Multi-Factor Moat Model
Synthesizing institutional thesis...
💼 MINIMUM INVESTMENT
Capital Matrix
Retail (Min Lot)
Up to ₹2 Lakhs Category
₹ 280000
HNI (Min Lot)
sNII / High Net-Worth Tier
₹ 420000
HNI Capital Multiple:
Institutional Lot Sizing
🍩 RESERVATION QUOTA (%)
Issue Allocation
100%
Total Issue
Anchor
26.94%
Market Maker
10%
QIB
18%
NII / HNI
13.55%
Retail
31.51%
Institutional Corporate Dossier
Optimystix Entertainment
COMPANY PROFILE & DNA
Incorporation / Founded
31-10-00
Active Vintage
Corporate Headquarters
Mumbai, Maharashtra
Registered Hub
👔 Leadership & Promoter Group
Key Management
Vipul D. Shah, Rajesh Darshan Bahl, Sanjay Dhirajlal Shah and Optimystix Media Private Limited
⚙️ Business Overview & Portfolio
Core Offerings
Creating and producing content for television, films, and digital platforms.
🎯 Target Market & End-Use
Revenue Drivers
Entertainment content used for television broadcasting and digital streaming platforms.
🛡️
★ Unique Selling Proposition (Core Economic Moat)
Proven legacy of culturally iconic, record-setting television franchises with diversified revenues.
Objects of the Issue (Use of Proceeds & Allocation)
🎯 Objective 01
Working Capital Requirements
₹ 64.38
Allocation
🎯 Objective 02
General Corporate Purposes
Balance
Allocation
🎯 Objective 03
Not Mentioned
Not Mentioned
Allocation
🎯 Objective 04
Not Mentioned
Not Mentioned
Allocation
Financial Performance & Multi-Year Trajectory
All Figures in ₹ Crores
Latest Total Income📊
₹-
Top-Line
EBITDA Margin⚡
-%
Operating
Net Profit (PAT) Margin📈
-%
Bottom-Line
Debt / Net Worth🛡️
-x
Leverage
📊 Income, EBITDA & Profit Growth Trajectory
Income
EBITDA
PAT Trend
🏛️ Balance Sheet: Net Worth vs Debt
Net Worth
Borrowing
| Particulars | FY26 | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Total Income | 134.99 | 124.39 | 54.76 | |
| EBITDA | 31.21 | 24.42 | 4.24 | |
| Profit After Tax (PAT) | 24.04 | 17.24 | 6.69 | |
| Net Worth | 131.47 | 97.19 | 59.66 | |
| Total Borrowing | 0.00 | 0.09 | 0.44 |
Growth Engine & Compounding Velocity (KPIs)
Multi-Year Trajectory
124.39
₹ Cr
YoY Growth
1.2715
3-Year CAGR
NA
24.42
₹ Cr
YoY Growth
4.763
3-Year CAGR
NA
17.24
₹ Cr
YoY Growth
1.5774
3-Year CAGR
NA
Capital Efficiency & Return Ratios (ROE vs ROCE)
Capital Allocation Audit
◈ ROE (Return on Equity)
Calculating...
-%
Current ROE
◈ ROCE (Capital Employed)
Calculating...
-%
Current ROCE
| MetricMetric | Current (%)Curr% | Last Year (%)Last% | 3-Yr Avg (%)3Y Avg | Trend StatusTrend |
|---|---|---|---|---|
| ROE (Return on Equity)ROE | 0.1774 | 0.1121 | 0.1447 | Good |
| ROCE (Capital Employed)ROCE | 0.251 | 0.0705 | 0.1608 | Good |
Forensic Analysis & Reality Check
Earnings Quality & Dilution Audit
0.0357
CFO / EBITDA
Cash Flow Conversion Efficiency
Checking...
Analyzing operating cash flow conversion...
| Parameter | Pre-IPO | Post-IPO | View |
|---|---|---|---|
| Debt / Equity | 0.001 | 0 | Low |
| EPS (₹) | 7.41 | 10.33 | Accretive |
| ROE (%) | 0.1774 | 0.0933 | Bad |
| ROCE (%) | 0.251 | 0.1322 | Bad |
| P/E (Valuation) | 23.62 | 16.94 | Reasonable |
⏳ Debtor Days Trend (Receivables Cycle)
Analyzing...
FY23
FY24
FY25
Lower receivable days indicate faster cash collection from clients.
⚠️ Contingent Liabilities
Off-Balance Sheet
₹ 0.23 Cr
*Potential hidden obligations & legal/tax claims
Peer Comparison Analysis & Competitive Matrix
Industry Benchmarking
| Company NameComp | Revenue (Cr)Rev | P/E RatioP/E | ROCE (%)ROCE | ROE (%)ROE | OPM (%)OPM |
|---|---|---|---|---|---|
| Optimystix Entertainment India Limited IPO CANDIDATE | 124.39 | 16.94 (Ask) | 0.251 | 9.33% (Post Issue) | 0.1963 |
| Panorama Studios International Ltd | ₹ 308.50 Cr | 83.2 | 0.0285 | 0.0452 | 0.0793 |
| Cinevista Ltd | ₹ 23.97 Cr | 14.19 | 0.08 | 0.11 | 0.45 |
| Balaji Telefilms Ltd | ₹ 210.83 Cr | -21.95 | -0.0782 | -0.0799 | -0.3121 |
| NA | 0 | 0 | 0 | 0 | 0 |
| NA | 0 | 0 | 0 | 0 | 0 |
▲ Positive Catalysts (Strengths + Opportunities):
8 Factors
▼ Risk Vectors (Weaknesses + Threats):
8 Factors
Strengths
Internal Competitive Moat
- Proven legacy of culturally iconic, record-setting television franchises with diversified revenues.
- Multi-genre, multi-platform engine producing fiction and non-fiction fiction at scale.
- Experienced creative leadership with over 25 years in the Indian entertainment industry.
- Established strategic partnerships across the television and film production ecosystem.
Weaknesses
Internal Operational Constraints
- Revenues are highly dependent on a limited number of broadcasters, film studios and streaming platforms.
- Top 5 customers accounted for over 78% of the total revenue in recent financial years.
- Negative cash flows from operating activities in multiple past financial years.
- Proposed expansion into new content formats may strain operational and financial resources.
Opportunities
External Growth Tailwinds
- Growth of Digital and OTT ecosystem driving demand for original premium content.
- Early access to Google's generative video technology Veo-3 to pilot AI-driven content workflows.
- Developing original animated intellectual properties to monetize via proprietary YouTube channels.
- Sustained demand for regional and GEC television content in Tier 2 and Tier 3 markets.
Threats & Risks
External Macro & Sector Headwinds
- Intensifying competition for commissioning slots and prime-time television slots.
- Regulatory changes in India leading to uncertain and evolving compliance requirements.
- Unfavorable macroeconomic and market conditions in India and globally affecting performance.
- Evolving audience preferences leading to potential risk of underperformance in creative content.
Top 10 Anchor Investors & Smart-Money Allocation
INSTITUTIONAL BOOK
Top 10 Anchor Commitment
₹- Cr
Smart-Money Quality Score
- / 5.0 ★
Marquee Conviction
SEBI Anchor Lock-In Schedule
30D (50%) • 90D (50%)
Mandatory Lock-In
Anchor Book Allocation Pending Exchange Filing
Institutional anchor investor bidding & allocation disclosures are officially filed with NSE/BSE 1 working day prior to the IPO opening date.
| Rank | Marquee Anchor Institution | Smart-Money Grade | Amount Invested | Anchor Share (%) |
|---|
175
Score of 3/10 reflects base score of 5, with +1 for steady EBITDA margin expansion (8.19% to 23.04%), offset by -3 deductions due to a highly fragmented media landscape, extreme client concentration (top 5 clients at 85.05% of FY26 revenues), and an intensive working capital cycle (238 inventory days and 94 debtor days).
26.94
10
QIB Quota
Qualified Institutional Buyers
Smart Money
-x
Institutional Book
Inst. Conviction:
Evaluating
NII / HNI Quota
sNII (₹2L-10L) & bNII (₹10L+)
HNI Desk
-x
Non-Institutional
HNI Competition Ratio:
-
Retail (RII) Quota
Individual Investors (Up to ₹2L)
SEBI Lottery
-x
Retail Book
Retail Allotment Odds:
-