Harman Baweja, the actor-turned-entrepreneur, is set to redefine success with the debut of Baweja Studios on the stock market, commencing today, January 29. Steering away from his cinematic roots, Harman is focused on elevating his father's brainchild, Baweja Studios, to new heights in the corporate landscape.
Shifting Focus: After nearly two decades in the film industry, Harman Baweja found a new calling in the corporate world, especially with the upcoming IPO of Baweja Studios. Despite a recent comeback in the web series "Scoop" on Netflix, Harman emphasizes that acting is no longer the priority. His full attention is now dedicated to the public issue and the strategic expansion of Baweja Studios.
Diversification Strategies:
Baweja Studios, in the filmmaking business since 1994, has undergone a significant evolution. Expanding beyond traditional theatrical releases, the studio has embraced digital content and animation. "We have diversified our verticals. We made theatrical films and then in the past few years we diversified into digital - web series and direct-to-digital films. We are also strongly present in animation which is an under-exposed vertical," notes Harman Baweja.
Future Focus on Animation and Digital Content:
With an eye on the future, Baweja Studios is actively pushing its presence in animation and digital content. A significant animation superhero project is in the works, and a live animation project is on the horizon. Harman Baweja underscores the potential in these segments, with plans to increase the revenue share from animation.
Upcoming Projects and IPO Utilization:
The studio has an ambitious pipeline for the upcoming year, with seven productions across films, series, and animation content. Harman Baweja states, "We have another production pipeline for titles that will go on the floor this year. There are six projects in the pre-production stage." The IPO, scheduled from January 29 to February 1, aims to fuel these projects and boost content development.
Company Resilience Amid Challenges:
Despite the challenges posed by the COVID-19 pandemic, Baweja Studios displayed resilience. The company witnessed a dip in net profit in FY22 due to the pandemic impact, but it rebounded in the subsequent financial year, exceeding pre-COVID levels with a net profit of Rs 7.96 crore. The revenue trajectory also showcased robust growth from Rs 19 crore in FY22 to Rs 76 crore, translating to an impressive CAGR of almost 95% over the last two financial years.
IPO Details and Investor Interest:
As the IPO draws closer, Baweja Studios Ltd has already garnered attention from anchor investors, with the anchor portion fully subscribed on January 25, 2024. The public offering opens on January 29, providing investors with an opportunity to be part of the cinematic legacy's transformative journey.
In the words of Harman Baweja, "The IPO was always on the back of our minds." As the curtains rise on this new chapter, Baweja Studios aims to script a tale of success not just on the silver screen but also in the dynamic world of the stock market.
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