Video condensation or synopsis is an effective solution for problems regarding video storage and video browsing. The proposed model contributed to developing the video condensation framework for efficient video browsing and video retrieval. In the first stage, the videos are gathered from the surveillance videos. Here, the frames are generated, and then the video backgrounds are extracted. The objects from the frames are acquired through the support of Yolov3. Next, the optimal stitching is done based on the time and object activity of video frames using the Improved Blue Monkey Optimization (IBMO) algorithm. Moreover, video condensation is performed to get the compact video for making better browsing and retrieval of video. The video browsing and retrieval are performed under two phases such as training and testing phases and both phases are done by gathering the videos and followed by the feature extraction using VGG16, where the heuristic improvement is made by the same IBMO algorithm. Then, the extracted deep features from video segments are clustered based on Fuzzy C-means (FCM) clustering for combining the extracted features. These features are stored in the feature database in the training phase. Next, in the testing phase, video browsing and retrieval are performed by considering the queries gathered from the standard dataset. The features of query videos are extracted, which are compared based on Multi-Similarity Function (MSF) with the features in the database for retrieving the video segments. Experimental results show that the developed IBMO-VGG-MSF-based video condensation saves computational loads compared to the previous methods without compromising the condensation ratio and visual quality.