The Kolkata based gaming group Funcell is ready to get listed on the London Stock Exchange. This will be a prominent step taken by the company in respect of their initial public offering.
ABOUT FUNCELL
The start-up was basically started to make creative & unique games that are good for all age groups. They basically focus on creativity which forms the core component of its growth. They have been declared as experts in Edu games. The popular games designed by them are:
- Real Haircut 3D
- 9 Months
- Idle Workout
- Idle Transformation
- Stairway To heaven
- Green Panda
- Chores
- Idle Car
- Idle World
All these games are not just one of many games that you see on play store. They have reached different milestones in their market segment.
Idle Transformation has made it to the Top 20 best games in the world,
9 Months has close to 5 million downloads and the most awaited
Idle World has 9 million downloads.
STORY BEHIND SUCCESS
The company has created close to 8 games that helped them in general to gain a huge fan base in countries like US & UK.
The CEO Abhishek Maplani said that “The flagship game of the company has been ‘Idle Human’ which topped the world ranking in the industry for seven consecutive days in August 2019 and is popular in the US, the UK, Australia and Canada. It still witnesses 20,000 downloads every day,”
The roads have not been so easy as it seems.
450 gaming projects were unsuccessfull before that one project that made them highly popular & reputed in the gaming business. The promoter took a strict step of quitting his textile business and enter into this domain with a creative mood.
FINANCIAL POSITION
The company’s position in the marketspace is quite firm and it has net profit of Rs.9 crore in the last year. The expectations this time to achieve the Rs. 20 crore profit benchmark; as it will provide a safety net to the publishers also. Publishers are entities that are responsible for promoting games with their campaigns and earn significant amount of royalty out of the expected earning of developers.
To come up with its initial public offering; two companies have been merged into the entity to start aiming at bringing the offer open for public in a year or two.
There are chances that the promoter will be diluting the 20 per cent stake. The expansion phase will lead to an increase in the number of employees as well as a strong commitment to make at least 20 new games active always pointing to the upgradation.
WHY LSE??
The company has chosen to get listed on LSE as they primarily cater to the customers that are present outside India. Therefore; getting listed on the overseas exchange would be of great advantage.
Studies show that USA & China have the most lucrative market for gaming as they have tapped close to more than $ 30 billion market.
Thereby focusing on these countries would be of top most priority making it very clear that gaming is not just something that people enjoy; it’s an efficient source of income.
