Digikore IPO’s Crazy Math: 282 Times Oversubscribed, Zero Doubts Left!
Mumbai: In a remarkable show of investor enthusiasm, Digikore’s highly anticipated initial public offering (IPO) concluded today, receiving an astounding 282 times oversubscription at the end of the final day. The IPO, which commenced on Monday, September 25, 2023, and wrapped up today, September 27, 2023, has witnessed incredible investor demand throughout its offering period.
Digikore’s IPO garnered significant attention right from the get-go, with subscription figures standing at 22.50 times on Day 1 and 76.89 times on Day 2, indicative of the overwhelming response from investors. The public issue attracted bids for 31,62,48,800 equity shares against the total available offering of 11,23,200 shares, 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.
The total IPO size amounts to an impressive Rs 30.48 crores, comprising a fresh issue of 12,60,800 equity shares, totalling 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.
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.
The company had also successfully concluded a pre-IPO funding round, attracting investments from prominent industry stalwarts. Notable investors include Nikhil Vora, Vijay Khetan, Mrinal Singh, Pramod Kasat, and more, who have recognized the immense value of Digikore’s innovative contributions to the world of Animation and Visual Effects (VFX).
Founded in the year 2000, Digikore Studios Limited is a renowned provider of a wide array of visual effects services. Their extensive offerings encompass visual effects (VFX) services catering to various mediums, including films, web series, TV series, documentaries, and commercials.
