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Digikore Studios IPO Detail 2023

Digikore Studios IPO Detail 2023

Introduction

The Digikore Studios IPO will open on September 25 and close on September 27, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 30.48 crore through this public offering, consisting of 17.82 lakh shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 168 to ₹ 171 per share.

Digikore Studios Limited (“the Company”)

Digikore Studios Limited was incorporated in 2005. Digikore serves as a hub for top-tier industry talent. Having a production facility in India, these specialize in delivering visual effects (VFX) for a diverse range of projects such as films, web series, TV series, documentaries, and commercials, all while maintaining a strong emphasis on cost-effectiveness. Its reputation as a world-class VFX studio is a result of its harmonious blend of imaginative creativity and cutting-edge technology.

In its initial years, Digikore made its mark in the realm of animation and visual effects (VFX). Worked with an extensive portfolio of many films and TV series, notable works include projects like “Thor: Love and Thunder,” “Black Panther: Wakanda Forever,” “Glass Onion: A Knives Out Mystery,” “Deadpool,” “Star Trek,” “Jumanji,” “Stranger Things,” “The Last Ship,” “Titanic,” “Gosht Rider: Spirit of Vengeance,” “Transformer: Age of Extinction,” “Crouching Tiger, Hidden Dragon: Sword of Destiny,” and many more prestigious productions.

As a TPN-audited VFX studio, it offers a comprehensive suite of visual effects services, overseen by its experienced production team. Its artists harness the power of the latest software, hardware, and proprietary tools to produce exceptional VFX for some of the most prominent films, web series, and TV series.

Company Key Metrics

Earning Per Share (EPS)₹ 36.95 per Equity Share
Debt to Equity Ratio1.03
ROE74.03%
ROCE92.23%
Return on Net Worth (RoNW)74.03%

Objects of the Issue,

  1. Funding Working Capital requirements,
  2. General Corporate Purposes, and
  3. Offer Expenses.

Financial Highlights (Restated)

ParticularsPeriod ended on 30th June 2023FY 2022-23FY 2021-22FY 2020-21
Net Worth870.59542.66153.48106.94
Total Assets1,932.42825.18
Reserve & Surplus752.19424.2635.08(11.46)
Total Borrowings608.55349.46
Total Revenue1,182.993,692.382,488.39615.53
Profit After Tax279.65389.1746.541.80
(Amount in ₹ Lakhs)

IPO details

As per the DRHP filed with SEBI, 12.60 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. While Sarthi Capital Advisors Private Limited will be the lead manager for the IPO, Bigshare Services Pvt Ltd will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered by building the book.

Issue TypeBook Built Issue IPO
IPO Price₹ 168 to ₹ 171 per share
Face Value₹ 10 per share
Market Lot800 shares
Issue Size1,782,400 shares (aggregating up to ₹ 30.48 crores)
Fresh Issue1,260,800 shares (aggregating up to ₹ 21.56 crores)
Offer for Sale521,600 shares (aggregating up to ₹ 8.92 crores)
Listing AtNSE SME

Shareholding Pattern

Shareholding pre-issue5,072,000
Shareholding post issue6,332,800

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net offer
NII (HNI) shares offeredNot less than 15% of the offer
Retail shares offeredNot less than 35% of the offer

GMP: Digikore Studios IPO

GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates: Digikore Studios IPO

The issue opens for subscription on September 25, 2023, and closes for subscription on September 27, 2023 (both days inclusive). The basis of allotment will be finalised on October 3, 2023, and the refunds will be initiated on October 4, 2023. In addition, the demat credits are expected to happen on October 5, 2023, and the stock will be listed on the NSE SME on October 6, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateSeptember 25, 2023
Closing DateSeptember 27, 2023
Basis of AllotmentOctober 3, 2023
Initiation of RefundsOctober 4, 2023
A credit of shares to Demat A/cOctober 5, 2023
Listing DateOctober 6, 2023

Lot Size

The lot size of the Digikore Studios IPO is 800 shares. A retail-individual investor can apply for up to 1 lot, i.e. 800 shares of ₹ 136,800.

ApplicationsLotsSharesAmount
Retail (Minimum)1800₹ 136,800
Retail (Maximum)1800₹ 136,800
HNI (Minimum)21,600₹ 273,600

Promoters Holdings 

Mr. Abhishek Rameshkumar More and M/s. Shree M P J Cement Works LLP is the promoter of the company.

Pre-issue Shares Holdings93.38%
Post-issue Shares Holdings66.55%

SWOT Analysis

STRENGTHSWEAKNESSES
1. Strong Brand Equity in the VFX industry Worldwide.  
2. Solid Management Team. 
3. Among the first few VFX studios in India.  
4. Deep connections in the Industry Worldwide.  
5. Highly trained professionals  
6. Strict quality control in the production process.
1. High cost of capital, basic inputs, and manpower cost  
2. Dependency on KMPs  
3. Upgradation of knowledge of new technologies 
4. Deployed and services provided by the Company
OPPORTUNITIESTHREATS
1. Massive content creation industry tailwinds across the globe are fueling high growth in the VFX industry.
2. Ambitious plans as an early entrant into Virtual Production which is disrupting conventional VFX methods.
3. Great foundation to become a global player. 
4. Increased offshoring of projects to India as the global content economy expands with new OTT platforms  
5. The multi-language release formula led to increased volumes 
1. Its ability to remain competitive may be adversely affected by rapid technological changes and its ability to access such technology.  
2. Retention and Availability of quality talent  
3. Lockdown and suspension of commercial activities  
4. High-level competition

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
Company Contact InformationDigikore Studios Limited
C/o Poona Bottling Company Private Limited., 410/1, 411/2,
Mumbai Pune Road, Dapodi, Pune – 411012
Phone: 020-35553555
Email: [email protected]
Website: https://digikorevfx.com/
IPO RegistrarBigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: [email protected]
Website: https://ipo.bigshareonline.com/ipo_status.html
IPO Lead Manager(s)Sarthi Capital Advisors Private Limited

FAQs

The Digikore Studios IPO price is ₹ 168 to ₹ 171 per share.

The minimum investment size is one lot for retail investors. One lot of the Digikore Studios IPO contains 800 shares of ₹ 136,800.

The finalisation of the basis of allotment for the Digikore Studios IPO will be done on October 3, 2023, and the allotted shares will be credited to your demat account by October 5, 2023. Check the Digikore Studios IPO allotment status.

The Digikore Studios IPO shares listing date is October 6, 2023.

The investors’ portion for QIB is 50% of the Net offers, NII (HNI) is 15%, and retail is 35% of the offer.

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