Optimystix EntertainmentIPO Review — Financials, Valuation & Peers
A data-only look at the Optimystix Entertainment IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 54.99 | 6.69 | 4.48 | 59.66 | 105.81 | 0.09 | — |
| FY 2025 | 125.07 | 17.24 | 23.93 | 97.19 | 138.93 | — | — |
| FY 2026 | 135.89 | 24.04 | 31.1 | 131.47 | 166.8 | — | 13.16 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 13.3x
- P/E (post-issue)
- 16.94x
- RoNW
- 18.23%
- RoE
- 18.23%
- RoCE
- 23.05%
- EPS (pre-issue)
- ₹13.16
- EPS (post-issue)
- ₹10.33
- EBITDA Margin
- 23.04%
- PAT Margin
- 17.81%
- P/BV
- 2.29x
- NAV / share
- ₹71.97
- Market Cap
- ₹407.21 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV |
|---|---|---|---|---|---|
| Optimystix Entertainment | 13.37 | 71.97 | — | 18.23% | — |
| Balaji Telefilms | -4.09 | 5.19 | -21.95x | 7.99% | 12x |
| Cinevista | 1.06 | 9.8 | 14.19x | 11% | 1.44x |
| Panorama Studios International | 0.6 | 8.48 | 83.2x | 4.52% | 24.88x |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Vipul D.Shah, Rajesh Darshan Bahl, Sanjay Dhirajlal Shah, Optimystix Media Pvt.Ltd.</p>
- Holding (pre-issue)
- 77.61%
- Holding (post-issue)
- 55.77%
- Dilution
- 21.84%
Analysis in brief
Anchor book
The anchor round of the Optimystix Entertainment IPO drew 13 institutional investors committing a combined ₹29.24 crore. Anchor investors are institutions allotted shares at the issue price a day before bidding opens, in exchange for a mandatory post-listing lock-in — their names and cheque sizes are disclosed, which is why the anchor book is read as an institutional signal. The largest allocations went to BIRCHWOOD MULTI STRATEGY FUND OPEN-ENDED PCC LTD.-BIRCHWOOD GLOBAL ALPHA FUND (₹5 crore), BHARAT EMERGING & STRATEGIC TECHNOLOGY FUND (₹5 crore) and VIKASA INDIA EIF I FUND-INCUBE GLOBAL OPPORTUNITIES (₹3 crore). Investor categories represented include FII/FPI and Other. The lock-in on half the anchor shares ends on 11 Sept 2026, with the remainder locked until 10 Nov 2026.
Margin and return profile
Away from the price multiples, the offer document also discloses the shape of the underlying business. Optimystix Entertainment operates at an EBITDA margin of 23.04% and a net (PAT) margin of 17.81% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 23.05% and a return on equity (RoE) of 18.23%. At the upper band, the post-issue market capitalisation works out to about ₹407.21 crore. These are offer-document figures for the latest reported period (as of 31 Mar 2026); they describe the business as disclosed, not how the stock will trade.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward working capital requirements (₹64.38 crore), alongside issue expenses (₹16.28 crore). In all, 3 objects are disclosed.
Financials
In FY2026, Optimystix Entertainment reported revenue of ₹135.89 crore and a net profit of ₹24.04 crore. Revenue grew from ₹54.99 crore in FY2024 to ₹135.89 crore in FY2026 (+147.0%). Net worth stood at ₹131.47 crore at the end of FY2026. At the upper band, that puts the issue at roughly 13.3× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 16.94× post-issue earnings and 2.29× book value, against a return on net worth of 18.23%. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Balaji Telefilms and Cinevista, with a median peer P/E of about 14.2×. The issue's own post-issue P/E works out to 16.94×.
Promoters
The promoters of the company are <p>Vipul D.Shah, Rajesh Darshan Bahl, Sanjay Dhirajlal Shah, Optimystix Media Pvt.Ltd.</p>. Promoter holding stands at 77.61% before the issue and comes down to 55.77% after listing.
Frequently asked questions
- What is the reservation split in the Optimystix Entertainment IPO?
- Of the total shares offered, retail investors get 35.01%, QIBs 20% (plus 29.94% anchor), non-institutional investors 15.05%.
- Who are the promoters of Optimystix Entertainment and what is their holding?
- The promoters are <p>Vipul D.Shah, Rajesh Darshan Bahl, Sanjay Dhirajlal Shah, Optimystix Media Pvt.Ltd.</p>. Promoter holding is 77.61% before the issue and 55.77% after listing.
- What is the P/E ratio of the Optimystix Entertainment IPO?
- At the upper price band, the Optimystix Entertainment IPO is valued at 13.3× pre-issue earnings and 16.94× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Optimystix Entertainment IPO?
- The net proceeds go primarily toward working capital requirements, among 3 disclosed objects.