MUMBAI: Digikore Studios Limited, a renowned provider of visual effects services, has witnessed an unprecedented response from investors, with its highly anticipated initial public offering (IPO) receiving an astounding 282 times oversubscription. The IPO, which commenced on September 25, 2023, and concluded on September 27, 2023, has set a new record, underscoring the strong investor appetite for Digikore’s shares.
The public issue attracted bids for 31,62,48,800 equity shares against the total available offering of 11,23,200 shares, indicating the overwhelming response from investors. The total IPO size amounts to an impressive Rs 30.48 crores, comprising a fresh issue of 12,60,800 equity shares, totaling 21.55 crores, and an offer for sale (OFS) of 5,21,600 shares.
Digikore’s IPO price band had been set at Rs 168 to Rs 171 per share, with a manageable IPO lot size of 800 shares. The company is poised to move swiftly in the post-IPO process, with plans to finalize the basis of allotment on September 29, and refunds will be processed on October 3.
Leading the IPO process is Sarthi Capital Advisors Private Limited as the book-running lead manager, with Bigshare Services Private Limited serving as the IPO registrar. Notably, Digikore’s IPO received an overwhelming welcome from anchor investors, who committed Rs 8.22 crores on September 22, 2023, setting the stage for a successful offering.
Digikore’s innovative contributions to the world of Animation and Visual Effects (VFX) have been recognized by prominent industry stalwarts, including Nikhil Vora, Vijay Khetan, Mrinal Singh, Pramod Kasat, and more. The company had also successfully concluded a pre-IPO funding round, attracting investments from these notable investors.
Founded in the year 2000, Digikore Studios Limited offers a wide array of visual effects services, catering to various mediums, including films, web series, TV series, documentaries, and commercials.
Digikore’s IPO has set a new record, receiving an overwhelming response from investors, underscoring the strong investor appetite for Digikore’s shares. The company is poised to move swiftly in the post-IPO process, with plans to finalize the basis of allotment on September 29, and refunds will be processed on October 3.
