In a wave of investor optimism, Digikore Studios has seen a significant influx of investment on the second day of its Initial Public Offering (IPO). By the end of the second day, the ₹30 crore IPO was subscribed by over 76 times.
What Happened: Digikore Studios, an in the visual effects (VFX) industry major, opened its IPO on Monday. The IPO price band is ₹168 to ₹171 per share. The retail investors showed the most excitement as the retail segment was subscribed over 129 times. Non-institutional investors segment was oversubscribed by 45.89 times.
The company intends to utilise the net proceeds from the IPO to bolster its strategic growth plans, which include further innovation and expansion in the digital entertainment space.
Sarthi Capital Advisors Private Limited and Bigshare Services Private Limited have been designated as the Book Running Lead Manager and the Registrar to the Offer, respectively, while Gretex Share Broking Limited is the market maker for the IPO.
In the fiscal year 2022-23, Digikore recorded a significant spike in revenue, touching ₹35.56 crore, compared to ₹24.88 crore in the previous fiscal year. The company’s net profit for the same period also saw a substantial leap, reaching ₹4.37 crore, a stark contrast from ₹46.54 lakh in FY22.
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The final allotments will be unveiled on September 29th, refunds will be initiated on October 3rd and the shares will make their debut on the NSE EMERGE platform on October 4th.
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