Business News | Digikore Studios Limited IPO Opens on 25th September, 2023
Get latest articles and stories on Business at LatestLY. Mumbai (Maharashtra) [India], September 21: Digikore Studios Limited, specializes in delivering Visual Effects (VFX), has announced its plans to go public with an Initial Public Offering (IPO) on 25th September, 2023. The company is aiming to raise ₹ 30.48 crore on upper band price through this IPO, with shares set to be listed on the NSE EMERGE platform.
PNN
Mumbai (Maharashtra) [India], September 21: Digikore Studios Limited, specializes in delivering Visual Effects (VFX), has announced its plans to go public with an Initial Public Offering (IPO) on 25th September, 2023. The company is aiming to raise ₹ 30.48 crore on upper band price through this IPO, with shares set to be listed on the NSE EMERGE platform.
The fresh issue size is Up to 12,60,800 equity shares and offer for sale (OFS) is Up to 5,21,600 at face value of ₹ 10 each. The Bid opens for Anchor Investors on September 22nd, 2023.
Equity Share Allocation
· Qualified Institutional Buyers (QIB) – Up To 8,01,600 Equity Shares
· Non-Institutional Investors (NII) – Up To 2,40,800 Equity Shares
· Retail Individual Investors (RII) – Up To 5,61,600 Equity Shares
· Market Maker - 1,78,400 Equity Shares
The net proceeds from the IPO will be utilized for Funding Working Capital Requirements and for General Corporate Purposes. The issue closes on 27th September, 2023.
The Book Running Lead Manager to the Issue is Sarthi Capital Advisors Private Limited. The Registrar to the Issue is Bigshare Services Private Limited.
Abhishek More, Promoter & Managing Director of Digikore Studios Limited said, "Visual effects have become integral to the entertainment and creative industries. Our profound expertise within the sector has played a pivotal role in propelling our exceptional business growth. Given the increasing demand for VFX services in India, we have strategically positioned ourselves as a world class VFX studio, serving clients worldwide.
The IPO signifies our ambition and marks the inception of a new chapter in our journey, as it provides the necessary growth capital."
Deepak Sharma, Managing Director of Sarthi Capital Advisors Private Limited said, “We are confident that this offering will furnish Digikore Studios with the essential resources to fulfill its capital needs for expanding and enhancing its market position.
The IPO launch is expected to have a pivotal role in augmenting the Company's brand visibility. This dual effect, resulting from augmented resources and heightened brand recognition, underscores the importance of the forthcoming IPO in propelling the Company's path to growth."
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