Visual effects firm Digikore Studios has launched an initial public offering (IPO) on Monday, aiming to raise up to Rs 30.5 crore ($4.1 million). The IPO, which includes fresh issuance worth up to Rs 21.6 crore and an offer for sale (OFS) worth Rs 8.9 crore by promoters and existing shareholders, was open for subscription from Monday until Wednesday.
The shares under the IPO are set to be allotted on Thursday, September 29, with successful bidders having shares credited into their demat accounts by Tuesday, October 3. The Digikore Studios stock is expected to enter the secondary market via the NSE's EMERGE platform for small and medium enterprises (SMEs) on Wednesday, October 4.
For this IPO, the company has priced its shares between Rs 168-171 ($1 = Rs 83.1) per share. Investors had the opportunity to bid for the Digikore Studios IPO stock in multiples of 800 shares, which translates to Rs 1,34,400-1,36,800 per lot.
The proceeds from this fresh issuance will be used by Digikore Studios to fund its working capital requirements, general corporate purposes, and offer-related expenses. Sarthi Capital Advisors is serving as the book-running lead manager for the issue, while Bigshare Services is acting as the official registrar.
Founded in 2000, Digikore Studios Limited provides a comprehensive range of visual effects services. Its offerings include visual effects (VFX) services for films, web series, TV series, documentaries, and commercials.
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