Optimystix Entertainment India Ltd IPO
Status: Closed
Overview
IPO date
07 Aug 2026 to 11 Aug 2026
Face value
₹ 10 per share
Price
₹ 166 to ₹175 per share
Issue Size
6,200,000 shares
(aggregating up to ₹ 108.5 Cr)
(aggregating up to ₹ 108.5 Cr)
Allotment Date
12 Aug 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
Entertainment
Unlock Stock of the Month
T&C*
Strengths vs Risks of Optimystix Entertainment India Ltd
Know the pros & cons
Strengths
- Proven legacy of culturally iconic, record-setting tv franchises.
- Multi-genre, multi-platform engine with diversified revenues.
- Leadership with complementary creative & strategic strengths.
- Integrated & scalable production model with risk management.
- Early digital expansion & strategic tech/platform partnerships.
- Relationships across the entertainment ecosystem.
- In-house creative & production capabilities.
- Technology-Enabled Production Standards.
Risks
- The company's revenues is highly dependent on a limited number of broadcasters, Film studios and streaming platforms. The loss of, or a significant reduction in orders from, any of its major customers could have a material adverse effect on the company's business, financial condition, results of operations and prospects.
- The success of the company's business is dependent on the commercial viability of its television shows, web-series and films, which is inherently unpredictable and subject to audience preferences.
- The production of television, film and OTT/Digital content is a complex process, and the company is subject to risks such as production delays and cost overruns.
- The company's strategy to shift from a commission model to owning and monetising intellectual property (IP) increases capital intensity and earnings volatility; success depends on the performance of the underlying content and monetisation windows.
- The company derives a majority of its revenues from a limited number of customers, including broadcasters, film studios, OTT platforms and distributors.
- The company's rapid growth and planned expansion into new content formats may strain its financial and operational resources and adversely affect the company's performance.
- The company does not own its registered office premises and relies on leased/leave and license arrangements for certain facilities.
- The company does not own the intellectual property rights for its television and Over-the-Top (OTT) content as the company operates on a 'cost-plus' model. This limits its ability to generate long-term revenue streams from the company's content library and makes it dependent on the continuous commissioning of new projects from broadcasters and platforms.
- The Company has negative cash flows from its operating, investing and financing activities in the past years, details of which are given below. Sustained negative cash flow could impact on the company's growth and business.
- The company is dependent on its Promoter, senior management, and availability of key creative talent.
- The company's operations is subject to hazards inherent in film and TV production.
- The company's insurance coverage may not adequately protect it against all material risks.
- The company may has certain contingent liabilities, which if materialised, could adversely affect its business and results of operations.
- Piracy of the company's content may adversely impact its revenues.
- The company may be subject to intellectual property infringement claims.
- Delays, cost overruns, cancellations or abandonment of projects may adversely affect the company's business.
- The company relies on key relationships and strategic partnerships; any deterioration, non-renewal or change in terms may adversely affect its pipeline and monetisation.
- Dependence on key creative and managerial talent; loss of, or reduced availability of, such personnel could adversely affect the company.
- Regulatory and policy risks for media and digital businesses may increase compliance burden and affect monetisation.
- The company's digital initiatives (including AI-enabled content creation, short-form apps/platforms and YouTube-first IP) expose the company to product, technology, data protection and platform-policy risks.
- A significant portion of the company's revenues is dependent on the box office performance of its films.
- The company's business is exposed to risks from content-related controversies, negative publicity, and social media campaigns, which can harm its reputation, lead to legal action, and impact the company's financial performance.
- The company's success is primarily dependent on audience acceptance of its films, web series, original digital content and television content, which is inherently unpredictable.
- Fluctuations in foreign exchange rates may adversely affect the company's business, results of operations and financial condition.
- The company is exposed to credit risk from its customers and any significant delay or default in the collection of the company's trade receivables could adversely affect its cash flows and financial condition.
- The company's future growth depends on its unproven digital-first strategy, which includes leveraging emerging generative AI technologies and creating new digital IP. This pivot from its traditional business model exposes the company to significant execution, technological, and financial risks.
- Intensifying competition for commissioning slots, talent and IP may lead to cost escalation and margin compression.
- The company has entered into transactions with related parties. Its cannot assure you that the company could not have achieved more favourable terms if such transactions were not with related parties.
- The Company has significant outstanding dues and has entered into material transactions with related parties, including loans to a Promoter-Director and substantial receivables from a related LLP, which may result in conflicts of interest, credit risk and adverse impact on its financial condition. Further, the company has not filed the statutory form in relation to the issue of shares.
- The company relies on a network of third-party vendors, freelancers, executive producers and line producers for its production activities, and their failures to perform or comply with laws could adversely affect the company's business.
- The company's business is exposed to risks from content-related controversies, negative publicity, and social media campaigns, which can harm its reputation, lead to legal action, and impact the company's financial performance.
- The company has in the past reported negative cash flows and may continue to do so in the future. Any negative cash flows in the future would adversely affect its business, financial condition and results of operations.
- The company bear the entire risk of completion and commercial success in standalone productions, while in co-productions its may not always retain full monetization rights.
- There are outstanding legal proceedings involving the Company, its Directors, and the company's Promoters. Any adverse decisions could impact its cashflows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and have an adverse effect on the company's business, prospects, results of operations and financial condition.
- The media and entertainment industry in India is highly competitive, and the company's inability to compete effectively could adversely affect its business.
- The company's film business is dependent on its strategic partnership with T-Series for project financing and distribution, and this collaboration is not governed by a long-term agreement.
- The media and entertainment industry is subject to rapid technological changes, and the company's failures to adapt to these changes could harm its business.
- The company's business is subject to various laws and regulations, and any changes in the regulatory landscape could adversely affect its operations.
- The company's film production business requires significant upfront investment in projects with long and unpredictable development cycles; any delays or project cancellations could lead to a loss of its investment.
- The company may not be able to successfully compete for audiences with films released by other producers and with alternative forms of entertainment.
- The company's revenues and profitability vary across its business verticals, thereby making the company's future financial results less predictable.
- The company's business operations has substantial working capital requirements. Its inability to obtain and/or maintain sufficient cash flow, credit facilities and other sources of funding in a timely manner to meet the company's requirements of working capital or payment of its debts, could adversely affect the company's operations.
- The company's profit margins may not be sustainable and could decline due to various cost pressures.
- The company has certain contingent liabilities that have been disclosed in the Restated Financial Information, which if they materialize, may adversely affect its business, results of operations, financial condition and cash flows.
- The company's success also depends on its ability to attract, hire, train and retain skilled permanent and temporary personnel. An inability to recruit, train and retain suitably qualified and skilled personnel could adversely impact the company's business, results of operations, financial condition and cash flows.
- The company is required to obtain, maintain or renew statutory and regulatory licenses in respect of its principal business lines, and if the company fails to do so, in a timely manner or at all, its may be unable to fully or partially operates the company's businesses and its results of operations may be adversely affected.
- Any IT system failures or lapses on the part of any of the company's employees may lead to operational interruption, liabilities, or reputational harm.
- If the company is unable to collect its receivables from the company's clients, its results of operations and cash flows could be adversely affected.
- The company's success also depends on its ability to attract, hire, train and retain skilled permanent and temporary personnel. An inability to recruit, train and retain suitably qualified and skilled personnel could adversely impact the company's business, results of operations, financial condition and cash flows.
- The schedule of the company's estimated deployment of Net Proceeds is subject to inherent uncertainties.
- The company depends on the skills and experience of its Promoters, Key Managerial Personnel, Senior Management for the company's business and future growth.
- The company may requires raising additional equity or debt in the future in order to continue to grow its business, which may not be available on favorable terms or at all.
- Failures in internal control systems could cause operational errors which may have an adverse effect on the company's reputation, business, results of operations, financial condition and cash flows.
- After the completion of the Offer, the company's Promoters & Promoter Group will continue to collectively hold majority of the shareholding in the Company, which will allow them to influence the outcome of matters requiring shareholder approval.
- All the Directors of the Company does not has prior experience of directorship in any of companies listed on recognized stock exchanges, therefore, they will be able to provide only a limited guidance in relation to the affairs of the Company post listing.
- In addition to normal remuneration or benefits and reimbursement of expenses, some of the company's Promoters and/or Directors are interested in the Company to the extent of their shareholding and dividend entitlement thereon in the Company.
- The requirements of being a publicly listed company may strain its resources. Further non compliances of the regulatory requirements applicable to publicly listed companies may lead to suspension of the Company.
- The average cost of acquisition of Equity by the company's Promoters and promoter group could be lower than the Offer Price.
- The Company may not be able to pay dividends in the future. Its ability to pay dividends in the future will depends upon the company's future earnings, financial condition, cash flows, working capital requirements and capital expenditures and the terms of its financing arrangements.
- This Red Herring Prospectus contains information from third parties, including an industry report prepared by an independent third-party research agency, Dun & Bradstreet Information Services India Private Limited ("D&B"), which the company has commissioned and paid for purposes of confirming its understanding of the industry exclusively in connection with the Offer.
Optimystix Entertainment India Ltd Peer Comparison
Understand the company’s industry standing
Optimystix Entertainment India Ltd
Panorama Studios international Ltd
Cinevista Ltd
Face Value
10
2
2
Standalone / Consolidated
Consolidated
Consolidated
Consolidated
Total Income Rs. Cr.
---
---
---
EPS-Basis
13.36
0.6
1.06
EPS-Diluted
13.36
0.6
1.06
NAV Per Share
71.97
8.48
9.8
P/E-Basic EPS
---
83.20
14.19
P/E-Diluted EPS
---
---
---
RONW(%)
18.23
4.52
11
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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The IPO opens on 07 Aug 2026 & closes on 11 Aug 2026.
Optimystix Entertainment India Limited was originally incorporated as private limited Company on October 31, 2000. Subsequently, the name of the Company was changed from Optimystix Entertainment India Private Limited' to Optimystix Entertainment India Limited' on May 07, 2025 upon receipt of approval from the Central Government. and a fresh Certificate of Incorporation was issued by the Registrar of Companies, Central Processing Centre, on May 16, 2025. Company is in the business of production of Television Serials, digital contents, distribution of films and events.
Company operate across both fiction and non-fiction formats and develop programming across genres such as comedy, crime, and children's content for broadcasters and OTT platforms. It design original shows, formats, and franchises for multiple platforms to cater to evolving audience preferences.
The Company launched a landmark prime-time game show 'Khullja Sim Sim' on Star Plus in 2001. It produced the debut season of Indian Idol for Sony Entertainment Television in 2004, launched the youth drama Yeh Meri Life Hai on Sony TV in 2005, produced and created Comedy Circus as a long-running leader in TV comedy formats in 2008.
The Company launched Baalveer, a children's fantasy show on SAB TV in 2012, produced episodes of Crime Patrol Satark, expanding social-offer based storytelling in 2013. It launched Sabse Smart Kaun? on Star Plus, an interactive, play-along family game show in 2018. It launched Wakaoo Films, Film and OTT business/division under Optimystix in 2022 and has also launched Laughter Chefs - Unlimited Entertainment on Colors in 2024.
The Company has access to Google's Veo 3 generative video technology, piloting AIdriven content workflows across development, production, and post-positioning Optimystix as an early mover in AI-native media creation in FY 2025.
Company is planning the IPO of 62,00,000 equity shares of face value of Rs 10 each, comprising a fresh issue of 50,00,000 equity shares and the offer for sale of 12,00,000 equity shares.
Optimystix Entertainment India Ltd IPO will close on 11 Aug 2026.
- Proven legacy of culturally iconic, record-setting tv franchises.
- Multi-genre, multi-platform engine with diversified revenues.
- Leadership with complementary creative & strategic strengths.
- Integrated & scalable production model with risk management.
- Early digital expansion & strategic tech/platform partnerships.
- Relationships across the entertainment ecosystem.
- In-house creative & production capabilities.
- Technology-Enabled Production Standards.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Vipul D.Shah | 4877600 | 26.7 | 3677600 | 15.8 |
| 2 | Rajesh Darshan Bahl | 668200 | 3.66 | 668200 | 2.87 |
| 3 | Optimystix Media Private Limit | 8450000 | 46.25 | 8450000 | 36.31 |
| 4 | Sanjay D.Shah | --- | --- | --- | --- |
| 5 | Priti Rajesh Bahl | 182000 | 1 | 182000 | 0.78 |
- The company's revenues is highly dependent on a limited number of broadcasters, Film studios and streaming platforms. The loss of, or a significant reduction in orders from, any of its major customers could have a material adverse effect on the company's business, financial condition, results of operations and prospects.
- The success of the company's business is dependent on the commercial viability of its television shows, web-series and films, which is inherently unpredictable and subject to audience preferences.
- The production of television, film and OTT/Digital content is a complex process, and the company is subject to risks such as production delays and cost overruns.
- The company's strategy to shift from a commission model to owning and monetising intellectual property (IP) increases capital intensity and earnings volatility; success depends on the performance of the underlying content and monetisation windows.
- The company derives a majority of its revenues from a limited number of customers, including broadcasters, film studios, OTT platforms and distributors.
- The company's rapid growth and planned expansion into new content formats may strain its financial and operational resources and adversely affect the company's performance.
- The company does not own its registered office premises and relies on leased/leave and license arrangements for certain facilities.
- The company does not own the intellectual property rights for its television and Over-the-Top (OTT) content as the company operates on a 'cost-plus' model. This limits its ability to generate long-term revenue streams from the company's content library and makes it dependent on the continuous commissioning of new projects from broadcasters and platforms.
- The Company has negative cash flows from its operating, investing and financing activities in the past years, details of which are given below. Sustained negative cash flow could impact on the company's growth and business.
- The company is dependent on its Promoter, senior management, and availability of key creative talent.
- The company's operations is subject to hazards inherent in film and TV production.
- The company's insurance coverage may not adequately protect it against all material risks.
- The company may has certain contingent liabilities, which if materialised, could adversely affect its business and results of operations.
- Piracy of the company's content may adversely impact its revenues.
- The company may be subject to intellectual property infringement claims.
- Delays, cost overruns, cancellations or abandonment of projects may adversely affect the company's business.
- The company relies on key relationships and strategic partnerships; any deterioration, non-renewal or change in terms may adversely affect its pipeline and monetisation.
- Dependence on key creative and managerial talent; loss of, or reduced availability of, such personnel could adversely affect the company.
- Regulatory and policy risks for media and digital businesses may increase compliance burden and affect monetisation.
- The company's digital initiatives (including AI-enabled content creation, short-form apps/platforms and YouTube-first IP) expose the company to product, technology, data protection and platform-policy risks.
- A significant portion of the company's revenues is dependent on the box office performance of its films.
- The company's business is exposed to risks from content-related controversies, negative publicity, and social media campaigns, which can harm its reputation, lead to legal action, and impact the company's financial performance.
- The company's success is primarily dependent on audience acceptance of its films, web series, original digital content and television content, which is inherently unpredictable.
- Fluctuations in foreign exchange rates may adversely affect the company's business, results of operations and financial condition.
- The company is exposed to credit risk from its customers and any significant delay or default in the collection of the company's trade receivables could adversely affect its cash flows and financial condition.
- The company's future growth depends on its unproven digital-first strategy, which includes leveraging emerging generative AI technologies and creating new digital IP. This pivot from its traditional business model exposes the company to significant execution, technological, and financial risks.
- Intensifying competition for commissioning slots, talent and IP may lead to cost escalation and margin compression.
- The company has entered into transactions with related parties. Its cannot assure you that the company could not have achieved more favourable terms if such transactions were not with related parties.
- The Company has significant outstanding dues and has entered into material transactions with related parties, including loans to a Promoter-Director and substantial receivables from a related LLP, which may result in conflicts of interest, credit risk and adverse impact on its financial condition. Further, the company has not filed the statutory form in relation to the issue of shares.
- The company relies on a network of third-party vendors, freelancers, executive producers and line producers for its production activities, and their failures to perform or comply with laws could adversely affect the company's business.
- The company's business is exposed to risks from content-related controversies, negative publicity, and social media campaigns, which can harm its reputation, lead to legal action, and impact the company's financial performance.
- The company has in the past reported negative cash flows and may continue to do so in the future. Any negative cash flows in the future would adversely affect its business, financial condition and results of operations.
- The company bear the entire risk of completion and commercial success in standalone productions, while in co-productions its may not always retain full monetization rights.
- There are outstanding legal proceedings involving the Company, its Directors, and the company's Promoters. Any adverse decisions could impact its cashflows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and have an adverse effect on the company's business, prospects, results of operations and financial condition.
- The media and entertainment industry in India is highly competitive, and the company's inability to compete effectively could adversely affect its business.
- The company's film business is dependent on its strategic partnership with T-Series for project financing and distribution, and this collaboration is not governed by a long-term agreement.
- The media and entertainment industry is subject to rapid technological changes, and the company's failures to adapt to these changes could harm its business.
- The company's business is subject to various laws and regulations, and any changes in the regulatory landscape could adversely affect its operations.
- The company's film production business requires significant upfront investment in projects with long and unpredictable development cycles; any delays or project cancellations could lead to a loss of its investment.
- The company may not be able to successfully compete for audiences with films released by other producers and with alternative forms of entertainment.
- The company's revenues and profitability vary across its business verticals, thereby making the company's future financial results less predictable.
- The company's business operations has substantial working capital requirements. Its inability to obtain and/or maintain sufficient cash flow, credit facilities and other sources of funding in a timely manner to meet the company's requirements of working capital or payment of its debts, could adversely affect the company's operations.
- The company's profit margins may not be sustainable and could decline due to various cost pressures.
- The company has certain contingent liabilities that have been disclosed in the Restated Financial Information, which if they materialize, may adversely affect its business, results of operations, financial condition and cash flows.
- The company's success also depends on its ability to attract, hire, train and retain skilled permanent and temporary personnel. An inability to recruit, train and retain suitably qualified and skilled personnel could adversely impact the company's business, results of operations, financial condition and cash flows.
- The company is required to obtain, maintain or renew statutory and regulatory licenses in respect of its principal business lines, and if the company fails to do so, in a timely manner or at all, its may be unable to fully or partially operates the company's businesses and its results of operations may be adversely affected.
- Any IT system failures or lapses on the part of any of the company's employees may lead to operational interruption, liabilities, or reputational harm.
- If the company is unable to collect its receivables from the company's clients, its results of operations and cash flows could be adversely affected.
- The company's success also depends on its ability to attract, hire, train and retain skilled permanent and temporary personnel. An inability to recruit, train and retain suitably qualified and skilled personnel could adversely impact the company's business, results of operations, financial condition and cash flows.
- The schedule of the company's estimated deployment of Net Proceeds is subject to inherent uncertainties.
- The company depends on the skills and experience of its Promoters, Key Managerial Personnel, Senior Management for the company's business and future growth.
- The company may requires raising additional equity or debt in the future in order to continue to grow its business, which may not be available on favorable terms or at all.
- Failures in internal control systems could cause operational errors which may have an adverse effect on the company's reputation, business, results of operations, financial condition and cash flows.
- After the completion of the Offer, the company's Promoters & Promoter Group will continue to collectively hold majority of the shareholding in the Company, which will allow them to influence the outcome of matters requiring shareholder approval.
- All the Directors of the Company does not has prior experience of directorship in any of companies listed on recognized stock exchanges, therefore, they will be able to provide only a limited guidance in relation to the affairs of the Company post listing.
- In addition to normal remuneration or benefits and reimbursement of expenses, some of the company's Promoters and/or Directors are interested in the Company to the extent of their shareholding and dividend entitlement thereon in the Company.
- The requirements of being a publicly listed company may strain its resources. Further non compliances of the regulatory requirements applicable to publicly listed companies may lead to suspension of the Company.
- The average cost of acquisition of Equity by the company's Promoters and promoter group could be lower than the Offer Price.
- The Company may not be able to pay dividends in the future. Its ability to pay dividends in the future will depends upon the company's future earnings, financial condition, cash flows, working capital requirements and capital expenditures and the terms of its financing arrangements.
- This Red Herring Prospectus contains information from third parties, including an industry report prepared by an independent third-party research agency, Dun & Bradstreet Information Services India Private Limited ("D&B"), which the company has commissioned and paid for purposes of confirming its understanding of the industry exclusively in connection with the Offer.
The Issue type of Optimystix Entertainment India Ltd is Book Building - SME.
The minimum application for shares of Optimystix Entertainment India Ltd is 1600.
The total shares issue of Optimystix Entertainment India Ltd is 6200000.
Initial public offering up to 62,00,000 equity shares of Rs.10 each ("Equity Shares") of Optimystix Entertainment India Limited ("Optimystix " or the "Company") for cash at a price of Rs. 175 per equity share (the "Issue Price") aggregating to Rs. 108.5 Crores comprising a fresh issue of up to 50,00,000 equity shares aggregating to Rs. 87.5 Crores by the company ("Fresh Issue") and an offer for sale of up to 12,00,000 equity shares aggregating up to Rs. 21 Crores ("Offered Shares") by the Vipul D. Shah "Selling Shareholders" or "Promoter Selling Shareholders"), ("Offer For Sale", The issue includes a reservation of upto 6,20,000 equity shares aggregating to Rs. 10.85 Crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. Net issue of upto 55,80,000 equity shares aggregating to Rs.97.65 Crores (the "Net Issue"). The public issue and net issue will constitute 26.65% and 23.98%, respectively of the post-issue paid-up equity share capital of the company.
Price Band: Rs. 175/- per equity share of face value Rs. 10/- each.
The floor price is 17.50 times the face value of the equity shares.
Bids can be made for a minimum of 1,600 equity shares and in multiples of 800 equity shares thereafter.